Bill > HB5269

This bill, titled "The Young Professional Tax Credits," establishes new tax credits for West Virginia residents to help with student loan debt and child care costs. Starting in tax years beginning on or after January 1, 2026, individuals between the ages of 18 and 40 who have student loan debt can receive a credit against their state personal income taxes. The credit is calculated based on the accumulated interest paid on the student loan annually, and for college graduates without student loan debt, there's an annual tax credit of up to $1,000. This credit is available until the individual turns 40 or leaves West Virginia, whichever comes first, and can be claimed by any graduate aged 18 to 40 or until their student loans are fully repaid. Additionally, the bill introduces a refundable child care credit for taxpayers between 18 and 40, which is equal to the federal deduction for dependent children of a college graduate residing in the state. To qualify for the student loan tax credit, individuals must also have been residents of West Virginia for at least three years.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5269&year=2026&sessiontype=RS&btype=bill