FISCAL NOTE
FUND(S):
None
Sources of Revenue:
Other Fund None
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 nonprobate appraisement filing with the State Tax Commissioner and require that it only be filed with the clerk of the county commission or fiduciary representative.
As written, this bill would no longer require the personal representative of a resident decedent to file with the State Tax Commissioner a nonprobate inventory form listing all tangible and intangible personal property owned by the decedent (or in which the decedent had an interest). The filing of the nonprobate inventory form with the State Tax Commissioner is eliminated, effective on and after July 1, 2014. While the proposed revisions in W. Va. Code §11-11-7 also eliminate the filing of the nonprobate inventory form with County Clerks or Fiduciary Supervisors, the filing requirement with County Clerks or Fiduciary Supervisors is reinstated via the proposed changes in W. Va. Code §44-1-14.
There would be no additional administrative costs to the State Tax Department associated with passage of this bill. Personal representatives of a resident decedent may see a small reduction in their costs relative to estate administration.
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 |
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):
As written, this bill would no longer require the personal representative of a resident decedent to file with the State Tax Commissioner a nonprobate inventory form listing all tangible and intangible personal property owned by the decedent (or in which the decedent had an interest). The filing of the nonprobate inventory form with the State Tax Commissioner is eliminated, effective on and after July 1, 2014. While the proposed revisions in W. Va. Code §11-11-7 also eliminate the filing of the nonprobate inventory form with County Clerks or Fiduciary Supervisors, the filing requirement with County Clerks or Fiduciary Supervisors is reinstated via the proposed changes in W. Va. Code §44-1-14.
There would be no additional administrative costs to the State Tax Department associated with passage of this bill. Personal representatives of a resident decedent may see a small reduction in their costs relative to estate administration.
Memorandum
Person submitting Fiscal Note: Mark B. Muchow
Email Address: Roger.D.Cox@wv.gov