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 exempt from the sales tax on motor vehicles any motor vehicle that was purchased prior to January 1, 1920 and manufactured in West Virginia. The Division queried its vehicle database and found 124 passenger vehicles and 1 Class B truck that were manufactured in 1920 or before. The Division does not know how many of these vehicles were manufactured in West Virginia. In an earlier fiscal note for antique vehicles the Division had researched the vehicle database and determined that the average tax paid on an antique vehicle was $65. Not knowing how many of these vehicles might be sold the Division can only estimate that an average of $65 in revenue would be lost per transaction.



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 0 0


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


REVENUE LOST: Number of vehicles titled in the DMV Database that were manufactured in 1920 or earlier 125 Average tax on an antique vehicle $65



Memorandum






    Person submitting Fiscal Note: Rick Johnston
    Email Address: Rick.M.Johnston@wv.gov