| Date Requested:March 11, 2013 Time Requested:10:47 AM |
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| FUND(S) Road Fund | |||
|---|---|---|---|
Sources of Revenue | |||
| Special Fund | |||
Legislation creates:
Neither Program nor Fund | |||
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. |
| Over-all effect |
| 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 |
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3. 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 |