TO: | Honorable Steve Ogden, Chair, Senate Committee on Infrastructure Development and Security |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | SB43 by Ogden (Relating to motor vehicle registration fees.), As Introduced |
Fiscal Year | Probable Revenue Gain/(Loss) from STATE HIGHWAY FUND 6 |
---|---|
2003 | $226,000 |
2004 | $2,797,000 |
2005 | $3,611,000 |
2006 | $3,647,000 |
2007 | $3,683,000 |
2008 | $3,720,000 |
Fiscal Year | Probable Revenue Gain/(Loss) from STATE HIGHWAY FUND 6 |
---|---|
2004 | $2,331,000 |
2005 | $3,611,000 |
2006 | $3,647,000 |
2007 | $3,683,000 |
2008 | $3,720,000 |
The tables above reflect estimated gains to the State Highway Fund according to the Comptroller of Public Accounts. Table 1 reflects estimated gains if the bill would take effect immediately and Table 2 reflects estimated gains with a November 1, 2003, implementation date.
This analysis includes adjustments for initial implementation delays and a growth rate of approximately 1 percent in fees that would be collected under the provisions of the bill for each year after fiscal year 2005. With immediate effect, it is assumed that revenue gains of approximately $226,000 would be realized in fiscal 2003, $2.8 million in fiscal 2004, and $3.6 million in fiscal year 2005. If the bill would take effect on November 1, 2003, it is assumed that revenue gains of $2.3 million would be realized in fiscal year 2004 and $3.6 million in fiscal year 2005. It is also assumed that in subsequent years revenue gains of approximately $3.6 million would be realized in fiscal year 2006 and that this amount would increase to approximately $3.7 million during fiscal years 2007 and 2008.
Source Agencies: | 304 Comptroller of Public Accounts, 601 Department of Transportation
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LBB Staff: | JK, JO, SD, WP, MW
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