ENROLLED
Senate Bill No. 524
(By Senators Helmick, Love and Ross)
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[Passed March 11, 1995; in effect from passage.]
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AN ACT to amend article six-a, chapter eleven of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated
section five, relating to the property tax treatment of
personal property installed at a coal waste disposal power
project.
Be it enacted by the Legislature of West Virginia:
That article six-a, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
five, to read as follows:
ARTICLE 6A. POLLUTION CONTROL FACILITIES TAX TREATMENT.
§11-6A-5. Coal waste disposal power projects.
(a) Notwithstanding any other provisions of this article,
a coal waste disposal power project designed, constructed or
installed to reclaim, burn and dispose of coal wastes in
compliance with applicable air and water quality standards and
which meets the criteria for financing under section twenty-one,
article two-c, chapter thirteen of this code shall, for purposes
of section three of this article, be subject to the provisions
of this section.
(b) All items of personal property installed at a coal
waste disposal power project shall be deemed a pollution control
facility for purposes of this article, subject to an allocation
of value as contemplated by section four of this article, as
provided by this subsection. In allocating value, the tax
commissioner shall accord salvage valuation to a portion of the
total personal property at the project. The portion shall be
equal to the ratio of tons of West Virginia coal waste burned
and disposed of at the project to the total tons of coal and
coal waste burned and disposed at the project during the previous calendar year: Provided, That with respect to a
project placed in service prior to the effective date of this
section at which project such ratio for the year ended the
thirty-first day of December, one thousand nine hundred ninety-
four, was less than seventy percent, the tax commissioner shall
award salvage valuation to sixty-three percent of the total
personal property at the project for tax years after the
effective date of this section, notwithstanding the actual ratio
for any calendar year. The remaining portion of the personal
property at the project, but in no event less than twenty-five
percent of that total, shall be valued without regard to this
article: Provided, however, That the facility shall not qualify
as a pollution control facility under this subsection if it
burns coal, coal waste or fuel waste from outside the state of
West Virginia after the effective date of this section.
This provisions of this section are not intended to be
applied retroactively.