Bill > HB4035

This bill establishes a tax credit for coal-fired electric generating units in West Virginia to help offset the costs of complying with environmental regulations. Specifically, it allows these power plants to claim a credit against the business and occupation tax, which is a tax on the revenue generated from business activities. The credit is equal to 35% of the expenses incurred in installing, repairing, or maintaining "Environmental Pollution Control Equipment," which includes any equipment designed to meet environmental mandates for controlling air, water, or land pollution, and can also include carbon capture technology if required by law. This credit cannot reduce a company's tax liability by more than 50% in any given year, but any unused portion can be carried forward for up to five years. The purpose of this legislation is to incentivize these power plants to invest in environmental upgrades, thereby extending their operational life and helping to ensure a reliable and affordable energy supply for West Virginia residents while also protecting the environment.

Business and Industry, Transportation and Infrastructure

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4035&year=2026&sessiontype=RS&btype=bill