FISCAL NOTE
FUND(S):
General Revenue Fund
Sources of Revenue:
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to allow a deduction from the adjusted gross income of a taxpayer for contributions to the maintenance and improvement of state, county and municipal parks.
According to our interpretation, passage of this bill would result in a reduction in General Revenue Fund collections by roughly $900,000 or less per year beginning in FY2010. The provisions of the bill would apply to tax years beginning with tax year 2009. The bill would create a new decreasing modification of up to $3,000 per taxpayer for contributions made to State, county or municipal parks.
Additional costs to the State Tax Department would be approximately $13,000 in FY2010. All returns, web information and booklets for tax year 2009 would have to be redone.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2010
Increase/Decrease
(use"-") |
2011
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
13,000 |
0 |
0 |
| Personal Services |
8,000 |
0 |
0 |
| Current Expenses |
4,000 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
1,000 |
0 |
0 |
| 2. Estimated Total Revenues |
-900,000 |
-900,000 |
-900,000 |
Explanation of above estimates (including long-range effect):
This bill adds a new decreasing modification of up to $3,000 per taxpayer for contributions made to State, county or municipal parks beginning with tax year 2009. This new decreasing modification would reduce General Revenue Fund collections by $900,000 or less per year beginning in FY2010. The bill would require regulations to determine the timing of qualified contributions for purposes of this decreasing modification.
Additional costs to the State Tax Department would be approximately $13,000 in FY2010. All returns, web information and booklets for tax year 2009 would have to be redone.
Memorandum
The stated purpose of this bill is to allow a deduction from the adjusted gross income of a taxpayer for contributions to the maintenance and improvement of state, county and municipal parks.
The terms “park” and “services” are not defined in the bill which could lead to problems of interpretation. In addition, no formula is provided by which the “fair market value” of the services is to be determined.
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov