FISCAL NOTE

Date Requested: February 25, 2016
Time Requested: 10:35 AM
Agency: Tax Department, State
CBD Number: Version: Bill Number: Resolution Number:
2002 Engrossed HB4145
CBD Subject: Public Safety


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 authorize residents of the State of West Virginia to carry a firearm in a concealed manner, without permit, so long as certain conditions are met. In addition, this bill allows a Personal Income Tax credit of up to $50 for the cost of a concealed weapon safety course. If the costs of the course is less than $50, then the tax credit may be applied to fees associated with the initial application. Based on available data, the revenue loss due to passage would be $1.5 million per year, beginning in FY2018. The State Tax Department would incur $19,000 in additional administrative costs in FY2018 and $10,000 per year in subsequent fiscal years.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 10,000
Personal Services 0 0 10,000
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 -1,500,000


Explanation of above estimates (including long-range effect):


This fiscal note only addresses the tax credit portion of this bill. The bill allows a Personal Income Tax credit of up to $50 for the cost of a concealed weapon safety course. If the costs of the course is less than $50, then the tax credit may be applied to fees associated with the initial application. Based on available data, the revenue loss due to passage would be $1.5 million per year, beginning in FY2018. The State Tax Department would incur $19,000 in additional administrative costs in FY2018 and $10,000 per year in subsequent fiscal years.



Memorandum






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