West Virginia 2020 Regular Session Status: In Committee 1 R cosponsors

SB 478 — Creating WV Motorsports Entertainment Complex Investment Act

Last action — To Finance

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  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 2020 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

31 added · 33 removed

Plain-language change summary

The latest version of Bill SB 478 introduces a sales and use tax exemption specifically for companies making capital investments in motorsport entertainment complexes in West Virginia. This change aims to encourage investment in this recreational sector, which is recognized as significant for local economic growth. Additionally, the definition of the "Department" has been updated to specify the State Tax Department, ensuring clarity in regulatory terms. These adjustments highlight the state's commitment to supporting the motorsports industry, potentially leading to job creation and increased tourism.

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NEWS RELEASES HELPFUL LINKS Introduced Version « Senate Bill 478 History OTHER VERSIONS  —  Committee Substitute (1)  |   |  Email Key:
NEWS RELEASES HELPFUL LINKS SB478 SUB1 « Senate Bill 478 History OTHER VERSIONS  —  Introduced Version  |   |  Email Key:
Red = new code to be enacted WEST virginia legislature regular session Introduced Senate Bill 478 By Senators Maynard, Roberts, and Cline [Introduced January 15, 2020;
Red = new code to be enacted WEST virginia legislature regular session Committee Substitute for Senate Bill 478 Senators Maynard, Roberts, and Cline, original sponsors [Originating in the Committee on Economic Development;
referred to the Committee on Economic Development;
Reported on February 7, 2020]     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;
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.
and creating a sales and use tax exemption for qualified companies that make a capital investment in any motorsport entertainment complex in the state.
The Legislature finds that motorsports is a popular spectator sport 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 Legislature finds that motorsports is a popular spectator sport, 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, §11-29-3.
The state recognizes the importance of providing incentives, through which large-scale investment in a motorsport entertainment complex would be attracted to the state, §11-29-3.
“Department” means the Department of Tax and Revenue.
“Department” means the State Tax Department.
“Motorsports entertainment complex” means a motorsports facility, and its ancillary grounds and facilities, that is designed to qualify as an officially-sanctioned motor speedway or racetrack.
“Motorsports entertainment complex” means a motorsports facility, including its ancillary grounds and facilities, that is designed to qualify as an officially sanctioned motor speedway or racetrack.
(a) A company currently operating, or upon making application for, meeting the requirements of, and receiving written certification of that 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.
(a) A company currently operating, or making application for meeting the requirements of, and receiving written certification of, that 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.
The director of the department shall approve the application so long as the application is accompanied by a practical plan to make a capital investment on any motorsports entertainment complex in this state.
The director of the department shall approve the application as long as the application is accompanied by a practical plan to make a capital investment on any motorsports entertainment complex in this state.
  NOTE:
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The purpose of this bill is to provide tax relief to encourage investment in motorsports entertainment complexes.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
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.
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Action History

  1. To Finance

  2. Committee substitute reported, but first to Finance

  3. To Economic Development

  4. Introduced in Senate

  5. To Economic Development then Finance

  6. Filed for introduction

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 149 not signed on

Sponsors (1)

  • Maynard

Co-sponsors (2)

Not signed on (149)

149 members have not signed on to this bill.

Show all 149 →

"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.

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Frequently asked questions

Who sponsors SB 478?
SB 478 is sponsored by Maynard, Rollan A. Roberts (Republican), and Cline.
What is the current status of SB 478?
This bill died with 2020 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 478?
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