FISCAL NOTE
FUND(S):
Division of Forestry Severance Tax Operations 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 stated purpose of this bill is to eliminate the timber severance tax for an additional three years.
According to our interpretation, passage of this bill would extend the discontinuation of the Severance Tax on timber levied via W. Va. Code §11-13A-3b through 2015. The bill would result in reductions in the Division of Forestry Severance Tax Operations Fund of roughly $1.0 million per year for FY2013 through 2015.
Additional administrative costs to the State Tax Department associated with this bill would be minimal.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2012
Increase/Decrease
(use"-") |
2013
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
830 |
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 |
-1,000,000 |
0 |
Explanation of above estimates (including long-range effect):
Passage of this bill would extend the discontinuation of the Severance Tax on timber levied via W. Va. Code §11-13A-3b through 2015. The bill would result in reductions in the Division of Forestry Severance Tax Operations Fund of roughly $1.0 million per year for FY2013 through 2015.
Additional administrative costs to the State Tax Department associated with this bill would be minimal.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov