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 purpose of this bill is to retain full-time nursing educators in the state by providing up to a $3,500 tax credit for full-time nursing faculty members. The bill sets forth the criteria for the credit. The bill also grants rule-making authority to Tax Commissioner. As written, this bill would reduce General Revenue collections by approximately $300,000 beginning in FY2012. Due to the lack of an internal effective date, this bill would not become effective until the 2011 tax year. There would be no additional administrative costs to the State Tax Department.



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 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 -300,000


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


The purpose of this bill is to retain full-time nursing educators in the state by providing up to a $3,500 tax credit for full-time nursing faculty members. The bill sets forth the criteria for the credit. The bill also grants rule-making authority to Tax Commissioner. There are approximately 200 West Virginia residents who are teaching full-time as nursing faculty at West Virginia higher education institutions with a median annual salary of $39,000. As written, this bill would reduce General Revenue collections by approximately $300,000 beginning in FY2012. There would be no additional administrative costs to the State Tax Department.



Memorandum






    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov