FUND(S):

Road Fund

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


     The purpose of this bill is to provide for the issuance of special license plates stating “I Support Veterans.”
    
     At least two hundred and fifty registrants must complete an application prior to design and production of the plate.
    
     The initial application fee is $10, with an annual fee of $15 in addition to the base registration fee.
    
     The Division has been paying $8.50 for special plates plus $5.00 for administration costs. Total initial cost is $13.50 per plate, or $3,375 for the initial two hundred and fifty plates.
    
     Additional revenues generated from this plate in the first year would be $6,250 and $3,750 in subsequent years. All revenues generated from this legislation would be deposited in the State Road Fund.
    



Fiscal Note Detail


Effect of Proposal Fiscal Year
2013
Increase/Decrease
(use"-")
2014
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 3,375 3,375 3,375
Personal Services 0 0 0
Current Expenses 1,250 1,250 1,250
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 2,125 2,125 2,125
2. Estimated Total Revenues 6,250 6,250 3,750


Explanation of above estimates (including long-range effect):


    Cost to issue the plate
     Plate Cost $ 8.50
     Administrative Cost $ 5.00
     Total Cost Per Plate $ 13.50
     Number of Plates 250
    
     Total Cost $ 3,375
    
    Revenue
     One Time Fee $ 10
     Annual Fee $ 15
     Number of Plates 250
    
     First Year Revenue $ 6,250
     Second Year Revenue $ 3,750



Memorandum


    



    Person submitting Fiscal Note: Jerry L. Conrad
    Email Address: Jerry.L.Conrad@wv.gov