SB 477 — Relating to five-year sunset on tax credits and incentives

NEWS RELEASES HELPFUL LINKS IntroducedSB477 VersionSUB1 « Senate Bill 477 History OTHER VERSIONS  —  CommitteeIntroduced SubstituteVersion (1)  |   |  Email Key:

Red = new code to be enacted WEST virginia legislature regular session IntroducedCommittee Substitute for Senate Bill 477 By Senators Smith, Boso, Clements, Jeffries, Swope, Sypolt, and Cline [Introduced[Originating Februaryin 2,the 2018;Committee on Finance;

ReferredReported on February 16, 2018]     A BILL to amend the CommitteeCode of West Virginia, 1931, as amended, by adding thereto a new article, designated §11-13EE-1, relating to the creation of a five-year sunset on Governmentall Organization;tax credits established by the same chapter.

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 §11-13EE-1, relating to the creation of a five-year sunset on all tax credits and tax incentives established by the same chapter.

Sunset provision in tax creditscredits. and tax incentive laws.

(a) Any new tax credit or tax incentive law created pursuant to chapter 11 of this code shall include a sunset provision terminating the credit or incentive after five years:

Provided, That if a different sunset or termination provision exists in the statute creating the tax creditcredit, or incentive, the enabling statute’s provision controls.

(b) Any tax credit or tax incentive law in existence prior to the effective date of this section, that is amended after the effective date of this section, shall include a sunset provision as part of the amendment setting forth a termination date of five years for the existing tax creditcredit: or tax incentive:

Provided, That if a different sunset or termination provision exists in the statute creating the tax creditcredit, or incentive, the enabling statute’s provision controls.

(c) The existence of a sunset provision terminating a tax credit or tax incentive does not preclude the repeal of the tax credit or tax incentive by the Legislature prior to the expiration of the sunset provision.

    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.