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 an optional two-year registration period for motorcycles.
No additional revenues would be generated by this bill.
For the previous fiscal year the Division registered 44,844 motorcycles. The Division estimates that approximately 25%, or 11,211, of the owners would take advantage of a two-year registration renewal.
The Division estimates that it costs approximately $5.00 to renew a registration plate. The estimated saving starting with the second year would be $56,000. The savings would be realized every other year.
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 |
-56,000 |
-56,000 |
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):
ESTIMATED COST SAVINGS
2007 Motorcycle Registrations 44,844
Percent taking advantage of 2 year renewal 25%
Total Number 11,211
Estimated cost to renew a registration plate $ 5.00
Estimated savings the second year $ 56,000.00
Memorandum
Person submitting Fiscal Note: Rick Johnston
Email Address: rjohnston@dot.state.wv.us