FISCAL NOTE
FUND(S):
PERS 2510
Sources of Revenue:
Other Fund State and Local Govts
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The bill extends current police officer tax exemptions from WV State income tax to certain DNR police officers retired under PERS.
There are no changes in PERS retirement benefits and therefore no pension costs.
Tax exemption reduces WV State tax collections. A fiscal note should additionally be requested from tax and revenue.
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 |
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):
The bill does not increase current or future PERS retirement benefits. As a result there are no pension costs resulting from the bill.
Memorandum
The bill provides retired DNR police officer PERS benefits tax exemption.
Person submitting Fiscal Note: Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email Address: harry.w.mandel@wv.gov