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Bill > SJR22
WV SJR22
WV SJR22Authorizing Legislature to Eliminate Ad Valorem Tax on Business and Inventory Tangible Personal Property Amendment
summary
Introduced
02/21/2026
02/21/2026
In Committee
02/21/2026
02/21/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Proposing an amendment to the Constitution of the State of West Virginia, amending article X thereof by adding a new section, designated section 1c, relating to legislative authority to repeal all business and inventory ad valorem property taxation on tangible personal property; numbering an designating such proposed amendment; and providing a summarized statement of the purpose of such proposed amendment.
AI Summary
This joint resolution proposes an amendment to the West Virginia Constitution that would allow the state Legislature to eliminate the ad valorem property tax on business inventory and other tangible personal property used by businesses, starting July 1, 2029. Ad valorem tax is a tax based on the assessed value of property. The amendment also mandates that, beginning on the same date, the Legislature must establish a general consumer sales tax rate equivalent to the amount of revenue lost from eliminating the business inventory tax, and this revenue must be distributed to counties that previously received funding from that tax. This change aims to remove the business inventory property tax and ensure that local governments continue to receive comparable funding.
Committee Categories
Justice
Sponsors (1)
Last Action
To Judiciary (on 02/21/2026)
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