FISCAL NOTE
FUND(S):
Sources of Revenue:
Special Fund
Legislation creates:
A New Program,A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of the introduced bill was to legalize and regulate the selling of fireworks; to create the West Virginia Veterans Program Fund; to impose a special ten percent fee on the sale of fireworks; AND TO USE THOSE PROCEEDS FOR THE VETERANS PROGRAM FUND. As amended by House Judiciary, an additional 5% fee would go to the State Fire Marshal and 5% to the Volunteer Fire Fighters Fire Protection Fund.
According to our interpretation, passage of this bill would require the State Tax Commissioner to extablish a Fireworks Registration Fee in the amount of $20 to be charged to any retailers desiring to sell fireworks. The Fireworks Registration Fee would be in addition to the current Business Registration Fee. The proposed bill also adds a 10 percent Fireworks Safety Fee in addition to the State Consumer Sales and Service Tax to be added to retail sales of consumer fireworks and items described in proposed bill. The proceeds from the 10 percent Fireworks Safety Fee to go to the West Virginia Veterans Program Fund.
As it relates to the Department of Veterans Assistance, the passage of this bill would result in a gain of $1.3 million to the West Virginia Veterans Program Fund.
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 |
13,000,000 |
Explanation of above estimates (including long-range effect):
As it relates to the Department of Veterans Assistance, the passage of this bill would result in a gain of $1.3 million to the West Virginia Veterans Program Fund.
The stated purpose of the introduced bill was to legalize and regulate the selling of fireworks; to create the West Virginia Veterans Program Fund; to impose a special ten percent fee on the sale of fireworks; AND TO USE THOSE PROCEEDS FOR THE VETERANS PROGRAM FUND. As amended by House Judiciary, an additional 5% fee would go to the State Fire Marshal and 5% to the Volunteer Fire Fighters Fire Protection Fund.
According to our interpretation, passage of this bill would require the State Tax Commissioner to extablish a Fireworks Registration Fee in the amount of $20 to be charged to any retailers desiring to sell fireworks. The Fireworks Registration Fee would be in addition to the current Business Registration Fee. The proposed bill also adds a 10 percent Fireworks Safety Fee in addition to the State Consumer Sales and Service Tax to be added to retail sales of consumer fireworks and items described in proposed bill. The proceeds from the 10 percent Fireworks Safety Fee to go to the West Virginia Veterans Program Fund.
Memorandum
The stated purpose of the introduced bill was to legalize and regulate the selling of fireworks; to create the West Virginia Veterans Program Fund; to impose a special ten percent fee on the sale of fireworks; AND TO USE THOSE PROCEEDS FOR THE VETERANS PROGRAM FUND. As amended by House Judiciary, an additional 5% fee would go to the State Fire Marshal and 5% to the Volunteer Fire Fighters Fire Protection Fund.
According to our interpretation, passage of this bill would require the State Tax Commissioner to extablish a Fireworks Registration Fee in the amount of $20 to be charged to any retailers desiring to sell fireworks. The Fireworks Registration Fee would be in addition to the current Business Registration Fee. The proposed bill also adds a 10 percent Fireworks Safety Fee in addition to the State Consumer Sales and Service Tax to be added to retail sales of consumer fireworks and items described in proposed bill. The proceeds from the 10 percent Fireworks Safety Fee to go to the West Virginia Veterans Program Fund.
As it relates to the Department of Veterans Assistance, the passage of this bill would result in a gain of $1.3 million to the West Virginia Veterans Program Fund.
Person submitting Fiscal Note: Angela S. Meadows, Chief Financial Officer
Email Address: Angela.S.Meadows@wv.gov