Bill > SB79

This bill, titled the "West Virginia Road and Highways Infrastructure Improvements and Coal Production and Processing Facilities Tax Credit Act," establishes a tax credit for eligible taxpayers who invest in road and highway infrastructure improvements or in coal production and processing facilities. An eligible taxpayer is defined as someone subject to the state's severance tax (a tax on the extraction of natural resources) who makes qualified expenditures. For road and highway projects, these expenditures include costs for labor, materials, services, and even the donation of land or improvements to the state for such projects, with a total of $100,000 in such expenditures eligible for certification by the Secretary of Transportation. For coal production and processing facilities, expenditures include costs for construction, installation, or fabrication of various components like haul roads, preparation plants, and machinery, as well as the purchase or lease of equipment used in these facilities. The credit allowed is 50% of the total qualified expenditures for both types of projects, but it can only offset up to 20% of a taxpayer's annual severance tax liability, with any unused credit able to be carried forward for up to 10 years. The bill also outlines specific definitions for terms like "corporation," "designee," and "related person" to clarify its application, and it specifies that the credit is effective for tax years beginning on or after January 1, 2026, aiming to encourage private investment in infrastructure and the coal industry to boost the state's economy.

Transportation and Infrastructure

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=79&year=2026&sessiontype=RS&btype=bill