Date Requested:February 16, 2005
Time Requested:01:13 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R136 Intro HB2022
CBD Subject: Income Exemption for Parks Contributions
FUND(S)
General Revenue Fund
Sources of Revenue
General Fund
Legislation creates:
A New Program

Fiscal Note Summary

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

    The stated purpose of this bill to promote contributions to the maintenance and improvement of the parks of the State.
    
    According to our interpretation, passage of this bill would result in a reduction in General Revenue Fund collections by roughly $750,000 or less per year beginning in FY2005-2006. The bill would create a new decreasing modification of up to $3,000 per taxpayer for contributions made to State, county or municipal parks.
    
    If all returns would be accepted as filed, there would be no additional administrative costs to the State Tax Department.

Fiscal Note Detail
Over-all effect
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 -750,000 -750,000
3. Explanation of above estimates (including long-range effect):
    This bill adds a new decreasing modification of up to $3,000 per taxpayer for contributions made to State, county or municipal parks. This new decreasing modification would reduce General Revenue Fund collections by $750,000 or less per year beginning in FY2005-2006. The bill would require regulations to determine the timing of qualified contributions for purposes of this decreasing modification.
    
    If all returns would be accepted as filed, there would be no additional administrative costs to the Tax Department.


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kpetry@tax.state.wv.us