FISCAL NOTE
FUND(S):
General Revenue Fund, Public Campaign Financing Fund
Sources of Revenue:
General Fund,Other Fund Public Campaign Financing
Legislation creates:
A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to create a system for the public funding of election campaigns for candidates for the State Senate and House of Delegates who agree to and do abide by restrictions on campaign contributions from private sources and limits on campaign spending.
According to our interpretation, a taxpayer may designate that up to $3 of “taxes” be deposited into the Public Campaign Financing Fund pursuant to a check off program to be developed by the Tax Commissioner. This check off would not be a donation from a refund but a direction by the taxpayer that $3 in taxes be directed to the Public Campaign Financing Fund upon appropriation from the General Fund to the Public Campaign Financing Fund.
The State Tax Department estimates that General Revenue Fund collections could decrease by roughly $225,000 if just ten percent of West Virginia individual income tax filers opt to designate $3 ($6 for married couples) of State General Revenue to the Public Campaign Financing Fund
Additional administrative costs to the State Tax Department associated with this bill would be minimal.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2009
Increase/Decrease
(use"-") |
2010
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 |
-225,000 |
-225,000 |
Explanation of above estimates (including long-range effect):
The State Tax Department estimates that General Revenue Fund collections could decrease by roughly $225,000 if just ten percent of West Virginia individual income tax filers opt to designate $3 ($6 for married couples) of State General Revenue to the Public Campaign Financing Fund. A taxpayer may designate that up to $3 of “taxes” be deposited into the Public Campaign Financing Fund pursuant to a check off program to be developed by the Tax Commissioner. This check off would not be a donation from a refund but a direction by the taxpayer that $3 in taxes be directed to the Public Campaign Financing Fund upon appropriation from the General Fund to the Public Campaign Financing Fund.
Additional administrative costs to the State Tax Department associated with this bill would be minimal.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kpetry@tax.state.wv.us