Bill > SB621

This bill establishes a tax credit for employers in West Virginia who operate existing employer-provided or employer-sponsored child-care facilities, aiming to reduce the financial burden on businesses that offer such benefits. The credit is calculated as 100% of the operational costs of these facilities, excluding costs related to "qualified child-care property" (which includes improvements, furniture, fixtures, and equipment used exclusively for the facility), and then subtracting any amounts employees paid for the care. The credit can be applied against both the state corporate net income tax and the state personal income tax, with a limit that the credit cannot exceed 100% of the taxpayer's income tax liability for the year. Unused credits can be carried forward for up to five years, and employers must provide certification to the Tax Department to ensure the credits are granted appropriately. Additionally, a provision is included for non-profit corporations that meet certain criteria to transfer, sell, or assign their calculated credits to other taxpayers. The Tax Commissioner is authorized to create necessary rules to implement this program.

Health and Social Services

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=621&year=2026&sessiontype=RS&btype=bill