summary
Introduced
02/25/2021
02/25/2021
In Committee
02/25/2021
02/25/2021
Crossed Over
Passed
Dead
04/10/2021
04/10/2021
Introduced Session
2021 Regular Session
Bill Summary
Extending Neighborhood Investment Program Act
AI Summary
This bill extends the Neighborhood Investment Program Act in West Virginia by increasing the total maximum aggregate tax credit amount from $3,000,000 to $5,000,000 per state fiscal year, and extends the expiration of the program from July 1, 2021 to July 1, 2026. The bill maintains the existing provisions for applying the tax credit to business franchise, corporation net income, and personal income taxes, as well as the requirement for an independent review of the program every three years. Taxpayers who have gained entitlement to the credit prior to the new expiration date will be able to continue to apply the credit.
Committee Categories
Budget and Finance
Sponsors (7)
Ryan Weld (R)*,
Stephen Baldwin (D),
Amy Grady (R),
Richard Lindsay (D),
Ron Stollings (D),
Tom Takubo (R),
Mike Woelfel (D),
Last Action
To Finance (on 02/25/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=446&year=2021&sessiontype=RS&btype=bill |
| Fiscal Note - Tax & Revenue Department, WV State | http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=799860941 |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=SB446%20INTR.htm&yr=2021&sesstype=RS&i=446 |
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