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 |
2014
Increase/Decrease
(use"-") |
2015
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
Memorandum
Person submitting Fiscal Note: Jerry L. Conrad
Email Address: Jerry.L.Conrad@wv.gov