FISCAL NOTE
Date Requested: February 09, 2024
Time Requested: 11:42 AM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3588 |
Introduced |
SB683 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
State Road Fund
Sources of Revenue:
Other Fund State Road Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to amend the definition of “alternative fuel” under the Motor Fuel Excise Tax.
The bill would amend the definition of “Alternative fuel” to include “P-series fuels” and remove “hydrogen” from the list of included alternative fuels. P-series fuels are a family of renewable, non-petroleum, liquid fuels that can substitute for gasoline. These fuels are a blend of methyl tetrahydrofuran, ethanol, and hydrocarbon. P-series fuels are clear, high-octane alternative fuels that can be used in flexible fuel vehicles.
Based on our interpretation, the legislation, if passed, would have no impact to State Road Fund collections.
Additional administrative costs incurred by the State Tax Department would be $1,000 in FY2024.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
1,000 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
1,000 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The bill would amend the definition of “Alternative fuel” to include “P-series fuels” and remove “hydrogen” from the list of included alternative fuels. P-series fuels are a family of renewable, non-petroleum, liquid fuels that can substitute for gasoline. These fuels are a blend of methyl tetrahydrofuran, ethanol, and hydrocarbon. P-series fuels are clear, high-octane alternative fuels that can be used in flexible fuel vehicles.
Based on our interpretation, the legislation, if passed, would have no impact to State Road Fund collections.
Additional administrative costs incurred by the State Tax Department would be $1,000 in FY2024.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov