Creating WV Motorsports Entertainment Complex Investment Act
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SB 554 — Creating WV Motorsports Entertainment Complex Investment Act
Last action — To Finance
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House of Delegates
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5To Executive
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6Enacted
This bill died with 2021 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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
30 added · 27 removedPlain-language change summary
The changes made to Bill SB 554 streamline language regarding the West Virginia Motorsports Entertainment Complex Investment Act. The bill now specifies that businesses involved in certain activities related to this complex will be exempt from sales tax on building materials and supplies, making it clearer and potentially easier for these businesses to benefit from the tax exemption. This matters because it can encourage investment in the state's motorsports sector, supporting economic growth and job creation in that industry.
NEWS RELEASES HELPFUL LINKS IntroducedSB554 VersionSUB1 « Senate Bill 554 History OTHER VERSIONS — CommitteeIntroduced SubstituteVersion (1) | | Email Key:
Red = new code to be enacted WEST virginia legislature regular session IntroducedCommittee Substitute for Senate Bill 554 By SenatorSenators Maynard [Introducedand MarchKarnes 3,[Originating 2021;in the Committee on Economic Development;
referredreported on March 18, 2021] A BILL to amend the CommitteeCode onof EconomicWest Development;Virginia, 1931, as amended, by adding thereto a new article, designated §11-29-1, §11-29-2, §11-29-3, §11-29-4, and §11-29-5, all relating to creating the West Virginia Motorsports Entertainment Complex Investment Act;
and then to the Committee on Finance] A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article, designated §11-29-1, §11-29-2, §11-29-3, §11-29-4, and §11-29-5, all relating to creating the West Virginia Motorsports Entertainment Complex Investment Act;
givingproviding definitions;
This article is hereby established and may be cited as the West Virginia Motorsports Entertainment Complex Investment Act.
The Legislature finds that motorsports is a popular spectator sportsport, the growth of which holds potential for significant economic impact by providing additional entertainment venues for West Virginia citizens and for creating tourist destinations.
The state recognizes the importance of providing incentives through which large-scale investment in a motorsport entertainment complex would be attracted to the state,state. §11-29-3.
§11-29-3.
(a) A company currently operating, or upon making application for, meeting the requirements of, andor receiving written certification of thatqualification, designation from the department, as provided in subsection (b) of this section, is exempt from state and local sales tax on building materials, supplies, fixtures, and equipment for the construction, repair, or improvement of or that become a part of a motorsports entertainment complex.
(b) A company shall becomereceive a qualified companycertification by applying with the department.
The director of the department shall approve the application soprovided long as the application is accompanied by a practical plan to make a capital investment on any motorsports entertainment complex in this state.
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View plain text versions (2)
- Committee Substitute View text Current html
- Introduced Introduced Version html
Action History
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To Finance
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Committee substitute reported, but first to Finance
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To Economic Development
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Introduced in Senate
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To Economic Development then Finance
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Filed for introduction
Sponsors
- Maynard · Primary
- Karnes · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 150 not signed on
Sponsors (1)
- Maynard
Co-sponsors (1)
- Karnes
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.
Subjects
Frequently asked questions
- Who sponsors SB 554?
- SB 554 is sponsored by Maynard and Karnes.
- What is the current status of SB 554?
- This bill died with 2021 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 554?
- Track SB 554 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 3 months ago · updated continuously
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