FISCAL NOTE
Date Requested: February 20, 2015 Time Requested: 02:45 PM |
Agency: |
Secretary of State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1576 |
Introduced |
HB2839 |
|
CBD Subject: |
Corporations |
---|
|
FUND(S):
General Fund 0126 and Special Reveneu Fund 1617
Sources of Revenue:
General Fund,Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The bill would eliminate the late fees charged by the Secretary of State Office on annual reports. The change would casuse an estimated decrease in revenue of S552.575 per year. $25,000 to special revenue fund 1617 General Revenue Fees and $527.575 to genera fund 0128 Treasurer's Office Fund. There will be no effect on expenditures due to the bill.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 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 |
-552,575 |
-552,575 |
Explanation of above estimates (including long-range effect):
Estimate is based on the actual late fees revenue for FY 2014
Memorandum
Person submitting Fiscal Note: John Sandoro SOS
Email Address: jsandoro@wvsos.com