FISCAL NOTE
Date Requested: March 10, 2025
Time Requested: 10:02 AM |
| Agency: |
Agriculture, WV Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3358 |
Introduced |
SB701 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
NA
Sources of Revenue:
Other Fund NA
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
SB701 reclassifies forestry equipment as Class I property, consistent with classifications of agricultural equipment, to provide tax benefits. This bill will not have an impact on the revenue and expense for the Department of Agriculture.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
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):
As the Department of Agriculture does not collect property taxes, this bill would not have impacts for the revenue and expense of the Department. Fiscal impact for revenue and expense for other units of State government are not included in these estimates.
Memorandum
None noted.
Person submitting Fiscal Note: Laryssa Hoskins on behalf of Alan Clemans, CFO
Email Address: aclemans@wvda.us