West Virginia 2024 Regular Session Status: In Committee 1 R cosponsors

HB 5489 — Relating to removing the tax exemption for credit unions.

Last action — To House Banking and Insurance

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

This bill is in committee in the House of Delegates. Introduced February 06, 2024. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House of Delegates.

Prognosis

Stalled 16% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

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

How this bill changes current law

1 change Share ↗

Compared against the W. Va. Code as published AI-generated reading aid — verify against the official bill.

This bill repeals the existing tax exemption for credit unions in West Virginia.

  • §31C-2-8

    §31C-2-8. Tax exemption. (a) Any credit union organized under this or any other credit union act and all shares and deposits therein shall be exempt from all taxation now or hereafter imposed by this state or any taxing authority within this state. No law which taxes corporations in any form, or the shares or deposits thereof, or the accumulation thereon, shall apply to any such credit union; except that any real property and any tangible personal property owned by any such credit union shall be subject to taxation to the same extent as other similar property is taxed: Provided, That this exception shall not permit the imposition of any sales or use taxes on the credit union.(b) The shares of any such credit union shall not be subject to stock, transfer taxes, either when issued or when transferred from one member to another.(c) The participation by a credit union in any government program providing unemployment, social security, old age pension or other benefits shall not be deemed a waiver of the taxation exemption hereby granted.

    This change eliminates the tax exemption currently granted to credit unions.

Action History

  1. To House Banking and Insurance

  2. Introduced in House

  3. To Banking and Insurance then Finance

  4. Filed for introduction

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 151 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (151)

151 members have not signed on to this bill.

Show all 151 →

"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 HB 5489?
HB 5489 is sponsored by Vernon Criss (Republican).
What is the current status of HB 5489?
This bill is in committee in the House of Delegates. Introduced February 06, 2024. It must pass committee before a floor vote.
Where can I track HB 5489?
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Last checked for changes 3 months ago · updated continuously

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