Bill > SB248

This bill, titled the "Return to West Virginia Tax Credit Act," aims to encourage former residents to return to West Virginia for employment by creating a nonrefundable tax credit of $25,000 against state personal income taxes. An "eligible taxpayer" is defined as someone who previously lived and worked in West Virginia for at least 10 years, or was born there, has not been a resident for at least 10 consecutive years before 2025, and becomes a resident again on or after January 1, 2025. The credit can be carried forward to future tax years if not fully used, but cannot exceed $25,000 in total and cannot be carried back to prior years. The Tax Commissioner is authorized to create rules and require documentation to verify eligibility, and the credit will be available for tax years after December 31, 2026, expiring after December 31, 2030, with annual reports on its utilization to be provided to the Joint Committee on Government and Finance.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=248&year=2026&sessiontype=RS&btype=bill