FISCAL NOTE



FUND(S):

Road Fund

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


The purpose of this bill is to authorize a special “In God We Trust” registration plate. This bill establishes a one time fee of $10.00 to cover the cost of issuance of the plate and an annual fee of $15.00 for each plate. These fees are in addition to the regular annual registration fee. In accordance with other provisions of 17A-3-14, there must be at least 250 registrants prior to the Division of Motor Vehicles Starting production of the “In God We Trust” plate. The Division has been paying $8.30 for special plates, plus $5.00 for administration cost. Total cost to issue this special plate is $13.30 per plate, or $3,325. Revenues generated from this plate will be $6,250 the first year, and $3,750 in subsequent years. All revenues generated by this bill will be deposited to the State Road Fund.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2008
Increase/Decrease
(use"-")
2009
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 3,325 0
Personal Services 0 0 0
Current Expenses 0 1,250 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 2,075 0
2. Estimated Total Revenues 0 6,250 3,750


Explanation of above estimates (including long-range effect):


Cost to issue the plate Plate Cost $ 8.30 Administrative Cost $ 5.00 Total Cost Per Plate $ 13.30 Number of Plates 250 Total Cost $ 3,325.00 Revenue One Time Fee $ 10.00 Annual Fee $ 15.00 Number of Plates 250 First Year Revenue $ 6,250.00 Second Year Revenue $ 3,750.00



Memorandum


The special registration plate revenue account mentioned in the bill has been merged with the State Road Fund. All revenues generated by this bill will be deposited to the State Road Fund.



    Person submitting Fiscal Note: Rick Johnston
    Email Address: rjohnston@dot.state.wv.us