H. B. 4591
(By Delegates Campbell, Canterbury,
Williams and Stalnaker)
[Introduced
February 16, 2006
; referred to the
Committee on the Judiciary then Finance.]
A BILL to amend and reenact §11-21-21 of the Code of West Virginia,
1931, as amended, relating to increasing the homestead
exemption for low-income taxpayers who qualify for the
homestead exemption for ad valorem property taxation purposes
by ten thousand dollars.
Be it enacted by the Legislature of West Virginia:
That §11-21-21 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
PART I. GENERAL.
§11-21-21. Senior citizens' tax credit for property tax paid on
first twenty thousand dollars of taxable assessed
value of a homestead in this state.
(a)
Allowance of credit. -- A low-income person who is allowed
a twenty thousand dollar homestead exemption from the assessed value of his or her homestead for ad valorem property tax purposes,
as provided in section three, article six-b of this chapter, shall
be allowed a refundable credit against the taxes imposed by this
article equal to the amount of ad valorem property taxes paid on up
to the first
ten twenty thousand dollars of taxable assessed value
of the homestead for property tax years that begin on or after the
first day of January, two thousand three.
(b)
Terms defined. -- For purposes of this section:
(1) "Low income" means federal adjusted gross income for the
taxable year that is one hundred fifty percent or less of the
federal poverty guideline for the year in which property tax was
paid, based upon the number of individuals in the family unit
residing in the homestead, as determined annually by the United
States Secretary of Health and Human Services.
(2) "Taxes paid" means the aggregate of regular levies, excess
levies and bond levies extended against not more than
ten twenty
thousand dollars of the taxable assessed value of a homestead that
are paid during the calendar year determined after application of
any discount for early payment of taxes but before application of
any penalty or interest for late payment of property taxes for a
property tax year that begins on or after the first day of January,
two thousand three.
(c)
Legislative rule. -- The Tax Commissioner shall
propose a
legislative rule for promulgation promulgate a legislative rule as provided in article three, chapter twenty-nine-a of this code to
explain and implement this section.
(d)
Confidentiality. -- The Tax Commissioner shall utilize
property tax information in the statewide electronic data
processing system network to the extent necessary for the purpose
of administering this section, notwithstanding any provision of
this code to the contrary.
NOTE: The purpose of this bill is to increase the homestead
exemption for low-income taxpayers who qualify for the homestead
exemption for ad valorem property taxation purposes by ten thousand
dollars.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.