FUND(S):

3228

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.


    This proposal would increase the cost of a class DS Bear Damage Stamp from $4 to $10. Implementing this proposal would not increase costs to the State. Revenues generated from the sale of the stamp would increase $129,391 per year.
    
    



Fiscal Note Detail


Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
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 0 129,391 129,391


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


    
    Current Sales Information:
    Number Sold x Cost of DS = Current Revenue
    25,824 x $4 = $103,296
    
    Estimated Sales Under This Proposal =
    ((Current Resident Sales x Proposed Cost of DS) x 90%) = Estimate Resident Revenue
    ((Current Nonresident Sales x Proposed Cost of DS) x 95% = Estimated Nonresident Revenue
    Estimated Resident Revenue + Estimated Nonresident Revenue = Estimated Proposal Revenue
    Estimated Proposal Revenue  Current Revenue = Net Increase in Revenue
    
    ((25,283 X $10) x 90%) = $227,547 Estimated Resident Revenue
    ((541 x $10) x 95%) = $5,140 Estimated Nonresident Revenue
    $227,547 + $5,140 = $232,687 Estimated Proposal Revenue
    $232,687 - $103,296 = $129,391 Net Increase in Revenue
    
    
    
    



Memorandum


     Person submitting Fiscal Note: Keith Wilson
     Email Address: kwilson@dnr.state.wv.us