FISCAL NOTE
Date Requested: January 17, 2019
Time Requested: 03:00 PM |
| Agency: |
Motor Vehicles, WV Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2287 |
Introduced |
HB2476 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is with respect to a cash settlement for a motor vehicle loss insurance claim, substitute the requirement that the settlement value include an amount equal to an excise tax imposed for the registration of vehicles with a requirement that the settlement value include an amount equal to the consumers sales tax levied when a vehicle is purchased. The amendment brings ยง33-6-33 into conformity with the taxation of motor vehicles, following the repeal of the five percent excise tax and replacement with the consumer sales tax.
The implementation of this bill appears to have no fiscal impact on the operation of the Division of Motor Vehicles.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2019
Increase/Decrease
(use"-") |
2020
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):
Memorandum
Person submitting Fiscal Note: Raeann Kriner
Email Address: raeann.k.kriner@wv.gov