Senate Bill No. 605
(By Senators Caruth, Prezioso, White, Palumbo,
Sypolt, Williams, Barnes, Unger, Deem, Plymale, Stollings and
Kessler)
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[Introduced March 16, 2009; referred to the Committee on the
Judiciary; and then to the Committee on Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-12B-3a, relating
to providing a tax credit for purchase of new safety
equipment.
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 §11-12B-3a, to read as
follows:
ARTICLE 12B. MINIMUM SEVERANCE TAX ON COAL.
§11-12B-3a. Credit for purchase of new safety equipment.
(a) The Mine Safety Technology Task Force, established in
section two, article eleven, chapter twenty-two-a of this code,
shall compile an annual list of new safety equipment that would
improve coal mine health and safety.
(b) Any company that purchases new safety equipment that is on
the annual list as provided in subsection (a) of this section shall
be allowed a fifty percent credit against the severance tax imposed
by this article for the cost of the equipment purchased.
NOTE: The purpose of this article is to allow for a tax credit
for coal companies that purchase new safety equipment that is
approved by the Mine Safety Technology Task Force.
This section is new; therefore, strike-throughs and
underscoring have been omitted.