FISCAL NOTE
FUND(S):
3228
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.
This proposal would increase the cost of a class DS Bear Damage Stamp from $4 to $10. Implementing this proposal would not increase costs to the State. Revenues generated from the sale of the stamp would increase $129,391 per year.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2005 Increase/Decrease (use"-") |
2006 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 |
129,391 |
129,391 |
Explanation of above estimates (including long-range effect):
Current Sales Information:
Number Sold x Cost of DS = Current Revenue
25,824 x $4 = $103,296
Estimated Sales Under This Proposal =
((Current Resident Sales x Proposed Cost of DS) x 90%) = Estimate Resident Revenue
((Current Nonresident Sales x Proposed Cost of DS) x 95% = Estimated Nonresident Revenue
Estimated Resident Revenue + Estimated Nonresident Revenue = Estimated Proposal Revenue
Estimated Proposal Revenue Current Revenue = Net Increase in Revenue
((25,283 X $10) x 90%) = $227,547 Estimated Resident Revenue
((541 x $10) x 95%) = $5,140 Estimated Nonresident Revenue
$227,547 + $5,140 = $232,687 Estimated Proposal Revenue
$232,687 - $103,296 = $129,391 Net Increase in Revenue
Memorandum
Person submitting Fiscal Note: Keith Wilson
Email Address: kwilson@dnr.state.wv.us