Fiscal Note

HB0297 - Calculation of Credit for Certain Repossessions of a Motor Vehicle

State Impact:
Enactment of this bill will not require additional appropriations. While this bill will increase the amount of tax credit for certain repossession of motor vehicles, no estimate can be made as to the impact on state revenues. Data is lacking to isolate the impact of additional credits as provided in this bill.

Individual, Business and/or Local Impact:
The loss of sales tax revenue, although not estimated, will also impact local government entities. Business involved in the repossession of motor vehicles will benefit from larger tax credits provided by this bill.