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 authorize a special Hatfield and McCoy registration plate. This bill establishes a one time fee of $10.00 to cover the cost of issuance of the plate and an additional fee of $15.00 for each plate annually.
The Division has been paying $8.50 for special plates, plus $5.00 for administration cost. Total cost to issue this special plate is $13.50 per plate.
Net revenues generated from this plate will be $11.50 per plate in the first year, which includes the $10 one time fee and the $15 annual fee. Each year thereafter there will be the $15 annual fee.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2013
Increase/Decrease
(use"-") |
2014
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
13 |
13 |
13 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
5 |
5 |
5 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
8 |
8 |
8 |
| 2. Estimated Total Revenues |
11 |
11 |
11 |
Explanation of above estimates (including long-range effect):
Cost to issue each plate
Plate Cost $ 8.50
Administrative Cost $ 5.00
Total Cost Per Plate $ 13.50
Revenue
First Year Revenue $25.00 per plate
Second Year Revenue $15.00 per plate
(On the fiscal note detail above, the numbers are .50 less than actual figures because system will not accept decimal point and half dollar amounts)
Memorandum
Person submitting Fiscal Note: Jerry L. Conrad
Email Address: Jerry.L.Conrad@wv.gov