West Virginia 2023 Regular Session Status: Enacted 2 R cosponsors

SB 487 — Extending additional modification reducing federal adjusted gross income

Last action — Chapter 308, Acts, Regular Session, 2023

Track this bill free

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

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

This bill has been enacted into law. Introduced January 27, 2023. Enacted.

Prognosis

Likely to advance 74% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 R).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

19 added · 19 removed

Plain-language change summary

The amendment to Bill SB 487 extends the cutoff date for a tax adjustment provided to retirees from January 1, 2023, to January 1, 2028. This change allows retirees who previously lost benefits from terminated pension plans to continue benefiting from this tax relief for an additional five years. It is important because it supports retirees in maintaining their financial stability by helping to bridge the gap between what they should have received and what they actually get.

→
Previous
Latest
WEST VIRGINIA LEGISLATURE REGULAR SESSION Introduced Senate Bill 487 BYSENATORW ELD ANCHAPMAN [Introduced January 27, 2023;
WEST VIRGINIA LEGISLATURE REGULAR SESSION ENROLLED Senate Bill 487 By Senators Weld and Chapman [Passed March 08, 2023;
referred to the Committee on Finance] Intr SB 487 A BILL to amend and reenact §11-21-12d of the Code of West Virginia, 1931, as amended, relating to extending the additional modification reducing federal adjusted gross income.
in effect 90 days from passage] Enr SB 487 AN ACT to amend and reenact §11-21-12d of the Code of West Virginia, 1931, as amended, relating to extending the additional modification reducing federal adjusted gross income.
(a) In addition to amounts authorized to be subtracted from federal adjusted gross income pursuant to §11-21-12(c)of this code, any personwho retires under an employer-provided defined benefit pension plan that terminates prior to or after the retirement of that person and the pension plan is covered by a guarantor whose maximum benefit guarantee is less than the maximum benefit to which the retiree was entitled had the plan not terminated may subtract annually from his or her federal adjusted income a sum equal to the difference in the amount of the maximum annual pension benefit the person would have received for such tax year had the plan not terminated and the maximum annual pension benefit actually received from the guarantor under a benefit guarantee plan:
(a) In addition to amounts authorized to be subtracted from federal adjusted gross income pursuant to §11-21-12(c) of this code, any person who retires under an employer-provided defined benefit pension plan that terminates prior to or after the retirement of that person and the pension plan is covered by a guarantor whose maximum benefit guarantee is less than the maximum benefit to which the retiree was entitled had the plan not terminated may subtract annually from his or her federal adjusted income a sum equal to the difference in the amount of the maximum annual pension benefit the person would have received for such tax year had the plan not terminated and the maximum annual pension benefit actually received from the guarantor under a benefit guarantee plan:
(b) This adjustment shall be effective for tax years beginning on January 1, 2020, and shall terminate for taxable years on and after January 1, 2023 2028.
(b) This adjustment shall be effective for tax years beginning on January 1, 2020, and shall terminate for taxable years on and after January 1, 2028.
⬇ Download PDF
View plain text versions (2)

Action History

  1. Chapter 308, Acts, Regular Session, 2023

  2. Approved by Governor 3/29/23

  3. To Governor 3/13/2023

  4. Approved by Governor 3/29/2023 - House Journal

  5. Approved by Governor 3/29/23 - Senate Journal

  6. To Governor 3/13/2023 - Senate Journal

  7. To Governor 3/13/2023 - House Journal

  8. House Message received

  9. Completed legislative action

  10. Communicated to Senate

  11. Passed House (Roll No. 558)

  12. Read 3rd time

  13. On 3rd reading, Special Calendar

  14. Read 2nd time

  15. On 2nd reading, Special Calendar

  16. Read 1st time

  17. On 1st reading, Special Calendar

  18. Do pass

  19. To House Finance

  20. To Finance

  21. Introduced in House

  22. Ordered to House

  23. Passed Senate (Roll No. 173)

  24. Read 3rd time

  25. On 3rd reading

  26. Read 2nd time

  27. On 2nd reading

  28. Read 1st time

  29. On 1st reading

  30. Reported do pass

  31. To Finance

  32. Introduced in Senate

  33. To Finance

  34. Filed for introduction

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 1 co-sponsors · 150 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (150)

150 members have not signed on to this bill.

Show all 150 →

"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

Votes

Passage

Passed 33 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 15001
Unaffiliated 17000
Democrat 1000
Total 33001
% of votes cast 97%0%0%3%
How each member voted (34)
Member Party Vote
MARONEY — Yea
STOVER — Yea
MARTIN — Yea
STUART — Yea
BOLEY — Yea
SWOPE — Yea
CAPUTO — Yea
NELSON — Yea
PHILLIPS — Yea
PLYMALE — Yea
TRUMP — Yea
HAMILTON — Yea
HUNT — Yea
JEFFRIES — Yea
SMITH — Yea
MR PRESIDENT — Yea
KARNES — Yea
Mike Woelfel Democrat Yea
Amy Grady Republican Yea
Ben Queen Republican Yea
Charles H. Clements Republican Yea
Eric Tarr Republican Yea
Jack Woodrum Republican Yea
Jason Barrett Republican Yea
Jay Taylor Republican Yea
Laura Wakim Chapman Republican Yea
Mark R. Maynard Republican Yea
Mike Azinger Republican Not Voting
Mike Oliverio Republican Yea
Patricia Rucker Republican Yea
Rollan A. Roberts Republican Yea
Ryan Weld Republican Yea
Tom Takubo Republican Yea
Vince Deeds Republican Yea

Official roll call →

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 487?
SB 487 is sponsored by Ryan Weld (Republican) and Laura Wakim Chapman (Republican).
What is the current status of SB 487?
This bill has been enacted into law. Introduced January 27, 2023. Enacted.
Where can I track SB 487?
Track SB 487 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 487

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 487

Last checked for changes 3 months ago · updated continuously

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

Track this bill →