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Introduced Version House Bill 4657 History

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Key: Green = existing Code. Red = new code to be enacted
hb4657 intr
H. B. 4657


(By Delegate Doyle)
[Introduced February 18, 2008; referred to the
Committee on Finance.]




A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-23-17b, relating to establishing a business franchise tax credit to home builders who sell more than ten homes for less than two hundred, fifty thousand dollars that are greater than one thousand, two square feet, provided those homes are sold to public school teachers who are in the state's five counties that have the highest percentage of teachers who are less than "highly qualified."

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-23-17b, to read as follows:
ARTICLE 23. BUSINESS FRANCHISE TAX.
§11-23-17b. Credits against tax for certain home builders.

A credit shall be allowed against the tax imposed by this article equal to the amount of franchise tax liability due under this article, for the taxable year (determined before application of other allowable credits) multiplied by ten per cent for home builders who
sell ten or more single family dwellings in that taxable year that are at least one thousand, two hundred square feet in size and sell for less than two hundred, fifty thousand dollars: Provided, That those homes are sold to public school teachers in the state's five counties that have the highest percentage of public school teachers who are less than "highly qualified" as that term is used in the No Child Left Behind Act, 20 U.S.C. §6301-§7916.



NOTE: This bill gives a ten per cent franchise tax credit to those home builders who sell more than ten homes for less than two hundred, fifty thousand dollars that are greater than one thousand, two square feet, provided those homes are sold to public school teachers who are in the state's five counties that have the highest percentage of teachers who are less than "highly qualified."

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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