Fiscal Note
HB0322 - Tire Recycling Fee Modifications
State Impact:
Provisions of this bill increases the recycling fee charged on new tires sold with rim diameters 22.5 inches through 24.5 inches by $1 per tire. This increase is estimated to generate $333,600 in additional revenue to the Waste Tire Recycling Fund. It is anticipated that $8,300 will be returned to the tire dealers, $8,100 to the Tax Commission, and $317,200 to Waste Tire Recycling Fund to fill the gap experienced the past few years created by reimbursements to tire recyclers as permitted in the current statute.
| Funding Source | FY 2009 Approp. | FY 2010 Approp. | FY 2011 Approp. | FY 2009 Revenue | FY 2010 Revenue | FY 2011 Revenue |
| Trust Funds | $0 | $333,600 | $333,600 | $0 | $333,600 | $333,600 |
| Total | $0 | $333,600 | $333,600 | $0 | $333,600 | $333,600 |
Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for individuals or local governments. Some tire dealers will realize additional revenues estimated at $8300 annually while consumers of large diameter tires (usually businesses) will pay $1 per tire more in fees.
| 2/9/2009, 10:08:43 AM, Lead Analyst: Bleazard, M. | Office of the Legislative Fiscal Analyst |