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 “In God We Trust” registration plate. This bill establishes a one time fee of $10.00 to cover the cost of issuance of the plate and an annual fee of $15.00 for each plate. These fees are in addition to the regular annual registration fee.
In accordance with other provisions of 17A-3-14, there must be at least 250 registrants prior to the Division of Motor Vehicles Starting production of the “In God We Trust” plate.
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, or $3,375.
Revenues generated from this plate, based on the minimum number of 250 registrations, will be $6,250 the first year, and $3,750 in subsequent years. All revenues generated by this bill will be deposited to the State Road Fund.
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 |
3,375 |
3,375 |
3,375 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
1,250 |
1,250 |
1,250 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
2,125 |
2,125 |
2,125 |
| 2. Estimated Total Revenues |
6,250 |
6,250 |
3,750 |
Explanation of above estimates (including long-range effect):
Cost to issue the plate
Plate Cost $ 8.50
Administrative Cost $ 5.00
Total Cost Per Plate $ 13.50
Number of Plates 250
Total Cost $ 3,375
Revenue
One Time Fee $ 10
Annual Fee $ 15
Number of Plates 250
First Year Revenue $ 6,250
Second Year Revenue $ 3,750
Memorandum
Person submitting Fiscal Note: Jerry L. Conrad
Email Address: Jerry.L.Conrad@wv.gov