FISCAL NOTE



FUND(S):

General Revenue Fund

Sources of Revenue:

General 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 include on the state personal income tax return a checkoff option to donate some or all of any tax refund to the Cedar Lakes Foundation Checkoff Program for the operation of the Cedar Lakes Foundation. According to our interpretation, passage of this bill would result in the creation of a voluntary check-off line on Personal Income Tax returns for taxpayers who wish to contribute to the “Cedar Lakes Foundation Checkoff Program.” The new check-off may result in the voluntary contribution of a modest sum of funds to provide a source of revenue for the operation of the Cedar Lake Foundation. Passage of this bill would have no effect on General Revenue Fund collections. Additional administrative costs to the State Tax Department would be minimal.



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):


Passage of this bill would result in the creation of a voluntary check-off line on Personal Income Tax returns for taxpayers who wish to contribute to the “Cedar Lakes Foundation Checkoff Program.” The new check-off may result in the voluntary contribution of a modest sum of funds to provide a source of revenue for the operation of the Cedar Lake Foundation. Passage of this bill would have no effect on General Revenue Fund collections. Additional administrative costs to the State Tax Department would be minimal.



Memorandum


The stated purpose of this bill is to include on the state personal income tax return a checkoff option to donate some or all of any tax refund to the Cedar Lakes Foundation Checkoff Program for the operation of the Cedar Lakes Foundation. As written, the bill indicates that the total amount of donated refunds are to be reported to the State Treasurer “who shall credit the amount to the Cedar Lakes Foundation Fund.” The West Virginia Financial Information Management System (FIMS) does not show an existing fund named “Cedar Lakes Foundation.” In order for proper administration and accounting, it may be necessary to create the fund via legislation.



    Person submitting Fiscal Note: Mark B. Muchow
    Email Address: Roger.D.Cox@wv.gov