FISCAL NOTE
Date Requested: February 19, 2015 Time Requested: 02:50 PM |
Agency: |
Tax Department, State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
3064 |
Introduced |
HB2816 |
|
CBD Subject: |
Tax |
---|
|
FUND(S):
Special Reclamation Trust Fund, Special Reclamation Water Trust 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 stated purpose of this bill is to specify that a tax credit may not be granted for reclamation or remediation performed prior to July 13, 2013, unless a written application for the tax credit was submitted to the Tax Commissioner prior to September 1, 2014.
According to our interpretation, there would be no impact to the Special Reclamation Trust Fund or the Special Reclamation Water Trust Fund upon passage of this bill.
The State Tax Department would not incur any additional administrative costs.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 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):
According to our interpretation, there would be no impact to the Special Reclamation Trust Fund or the Special Reclamation Water Trust Fund upon passage of this bill.
The State Tax Department would not incur any additional administrative costs.
Memorandum
The stated purpose of this bill is to specify that a tax credit may not be granted for reclamation or remediation performed prior to July 13, 2013, unless a written application for the tax credit was submitted to the Tax Commissioner prior to September 1, 2014.
The bill title may be insufficient for lack of reference to the “retrospective” application of the tax credit. In addition, the retrospective application of the tax credit is not addressed in the amending language of the bill. Courts have been reluctant to apply a tax law or change in tax law retrospectively unless the language of the statute contains a specific and express provision mandating retrospective application.
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov