West Virginia 2022 Regular Session Status: In Committee

SB 497 — Relating to method for appraising qualified capital additions to manufacturing facilities

Last action — To Finance

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House of Delegates
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

16 added · 15 removed

Plain-language change summary

The amendment to SB 497 clarifies the date from which certain investment assets must be located or installed within two miles of a capital addition. Instead of saying they must be in place since July 1, 1997, it now specifies that this requirement applies to assets placed in service on or after January 1, 2023. This change is significant because it establishes a clearer and more relevant timeline for new projects, potentially encouraging investment in the area.

→
Previous
Latest
NEWS RELEASES HELPFUL LINKS Introduced Version « Senate Bill 497 History OTHER VERSIONS  —  Committee Substitute (1)  |   |  Email Key:
NEWS RELEASES HELPFUL LINKS SB497 SUB1 « Senate Bill 497 History OTHER VERSIONS  —  Introduced Version  |   |  Email Key:
Red = new code to be enacted WEST VIRGINIA LEGISLATURE REGULAR SESSION Introduced Senate Bill 497 By Senators Swope and Sypolt [Introduced January 28, 2022;
Red = new code to be enacted WEST virginia legislature regular session Committee Substitute for Senate Bill 497 By Senators Swope and Sypolt [Originating in the Committee on Energy, Industry, and Mining;
referred to the Committee on Energy, Industry, and Mining;
reported on February 2, 2022]     A BILL to amend and reenact §11-6F-6 of the Code of West Virginia, 1931, as amended, all relating to the special method for appraising qualified capital additions to manufacturing facilities;
and then to the Committee on Finance]   A BILL to amend and reenact §11-6F-6 of the Code of West Virginia, 1931, as amended, all relating to the special method for appraising qualified capital additions to manufacturing facilities;
(a) This article is effective for the tax years beginning on and after the first day of July, one thousand nine hundred ninety-seven.
(a) This article is effective for the tax years beginning on and after the first day of July, one thousand nine hundred ninety-seven July 1, 1997.
(b) Notwithstanding any other provision of this article to the contrary, the requirement that qualified investment assets must be located or installed at or within two miles of a preexisting manufacturing facility owned or operated by the person making the capital addition, or by a multiple party project participant, is null, void and of no further force or effect for otherwise qualified investment assets placed in service or use on and after the first day of January 2023.
(b) Notwithstanding any other provision of this article to the contrary, the requirement that qualified investment assets be located or installed at or within two miles of a preexisting manufacturing facility owned or operated by the person making the capital addition, or by a multiple party project participant, is null, void, and of no further force or effect for otherwise qualified investment assets placed in service or use on and after the January 1, 2023.
The purpose of this bill is to eliminate the requirement that otherwise qualified investment assets be placed in service or use within 2 miles of a preexisting manufacturing facility for purposes of the special method for appraising qualified capital additions to manufacturing facilities.
The purpose of this bill is to eliminate the requirement that otherwise qualified investment assets be placed in service or use within two miles of a preexisting manufacturing facility for purposes of the special method for appraising qualified capital additions to manufacturing facilities.
Bill Status  |  Bill Tracking  |  Legacy WV Code  |  Bulletin Board  |  District Maps  |  Senate Roster  |  House Roster  |  Live  |  Blog  |  Jobs  |  Links  |  Home This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.
    Bill Status  |  Bill Tracking  |  Legacy WV Code  |  Bulletin Board  |  District Maps  |  Senate Roster  |  House Roster  |  Live  |  Blog  |  Jobs  |  Links  |  Home This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.
⬇ Download PDF
View plain text versions (2)

Action History

  1. To Finance

  2. Committee substitute reported, but first to Finance

  3. To Energy, Industry, and Mining

  4. Introduced in Senate

  5. To Energy, Industry, and Mining then Finance

  6. Filed for introduction

Sponsors

  • Sypolt · Cosponsor
  • Swope · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 1 co-sponsors · 132 not signed on

Sponsors (1)

  • Swope

Co-sponsors (1)

  • Sypolt

Not signed on (132)

132 members have not signed on to this bill.

Show all 132 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 497?
SB 497 is sponsored by Sypolt and Swope.
What is the current status of SB 497?
This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 497?
Track SB 497 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 497

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 497

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →