FISCAL NOTE
FUND(S):
Road Fund
Sources of Revenue:
Other 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 exempt the tax on sales of motor vehicles using natural gas or dual purpose motor vehicles that use a combination of gasoline and natural gas fuel.
There are currently 13 natural gas vehicles with active registrations in the state of West Virginia. Assuming a $30,000 average price (based on Honda Civic GX) the tax currently paid at five percent would be $600, for a total tax payment of $7,800.
Growth for this industry seems positive with the development of less expensive retrieval of natural gas, however, it is not possible to predict the total impact of sales tax elimination.
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 |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Growth for this industry seems positive with the development of less expensive retrieval of natural gas, however, it is not possible to predict the total impact of sales tax elimination.
Memorandum
Person submitting Fiscal Note: Jerry L. Conrad
Email Address: Jerry.L.Conrad@wv.gov