Date Requested: February 20, 2015
Time Requested: 10:47 AM
Agency: State Tax & Revenue Department
CBD Number: Version: Bill Number: Resolution Number:
3090 Introduced SB520
CBD Subject: Energy


FUND(S):

Local governments

Sources of Revenue:

Other Fund local governments

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 authorize local units of government to adopt local energy efficiency partnership programs and to create districts to promote the use of energy efficiency improvements by owners of certain real property; to provide for the financing of such programs through voluntary property assessments, commercial lending, and other means; to authorize a local unit of government to issue bonds, notes, and other evidences of indebtedness and to pay the cost of energy efficiency improvements from the proceeds thereof; to provide for the repayment of bonds, notes, and other evidences of indebtedness; to authorize certain fees; to prescribe the powers and duties of certain governmental officers and entities; and to provide remedies.
    
    Passage of this bill would have no impact on State revenue. The revenue impact to local governments cannot be determined because we do not know how many voluntary partnerships might be formed or the taxes that might be imposed.
    
    There would be a minimal increase in costs to the State Tax Department. There would be some additional administrative costs to local governments that decided to form one or more partnerships.



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):


    Passage of this bill would have no impact on State revenue. The revenue impact to local governments cannot be determined because we do not know how many voluntary partnerships might be formed or the taxes that might be imposed.
    
    There would be a minimal increase in costs to the State Tax Department. There would be some additional administrative costs to local governments that decided to form one or more partnerships.
    



Memorandum


    



    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov