WEST virginia legislature

2020 regular session

Committee Substitute

for

House Bill 2149

By Delegates Lovejoy, Linville, Hansen and Boggs

[Originating in the Committee on Finance; February 19, 2020.]

A BILL to amend and reenact §11-13DD-3 of the Code of West Virginia, 1931, as amended, relating to the Farm-To-Food Bank Tax Credit; and allowing the credit to equal 30 percent of the value of the donated edible agricultural products when the value is $2,500 or less.

Be it enacted by the Legislature of West Virginia:

ARTICLE 13DD. WEST VIRGINIA FARM-TO-FOOD BANK TAX credit.

§11-13DD-3. Amount of credit; limitation of credit.

(a) There is allowed to farming taxpayers who make donations of edible agricultural products to one or more nonprofit food programs in this state, a credit against taxes imposed by §11-21-1 et seq. and §11-24-1 et seq. of this code in the amount set forth in subsection (b) of this section.

(b) The amount of the credit is equal to ten 30 percent of the value of the donated edible agricultural products, but not to exceed $2,500 during a taxable year or the total amount of tax imposed by §11-21-1 et seq. or §11-24-1 et seq. of this code, whichever is less, in the year of donations.

(c) If the amount of the credit exceeds the taxpayer’s tax liability for the taxable year, the amount which exceeds the tax liability may be carried over and applied as a credit against the tax liability of the taxpayer pursuant to §11-21-1 et seq. or §11-24-1 et seq. of this code to each of the next four taxable years unless sooner used.

(d) No more than $200,000 of tax credits may be allocated to by the department in any fiscal year. The department shall allocate the tax credits in the order the donation forms are received.