SB247 HFIN AMT 3-4

    The Committee on Finance moved to amend the title of the bill to read as follows:

    Com. Sub. for S. B. 247 - “A BILL to amend and reenact §11-15-8d of the Code of West Virginia, 1931, as amended; and to amend said code by adding thereto a new section, designated §11-15-9n, all relating to consumers sales and service tax and use tax; specifying that restrictions on exemptions by a construction contractor do not apply for certain purchases of computers and computer software, primary material handling equipment, racking and racking systems and their components nor do these restrictions on exemptions apply to purchases of building materials and certain tangible personal property if the purchaser of computers and computer software and contracting services would be entitled to claim a newly created exemption; specifying exemption for certain purchases of computers and computer software, primary material handling equipment, racking and racking systems and their components, building materials and certain tangible personal property; specifying the application for certification of exemption and plan describing investment to be made; specifying application and plan filing date; specifying treatment of late filings and untimely filings of application and plan; specifying loss of exemption if investment is not made within the expansion period; defining terms; specifying exclusions and limitations for qualified warehouses and distribution facilities; specifying exclusions and disqualifications for failure to meet statutory criteria and requirements; specifying over-the-counter sales restrictions; specifying manufacturing, fabrication and assembly restrictions; specifying statute of limitations; specifying issuance of assessments against the purchaser of contracting services entitled to the newly created exemption and not against a contractor who relied in good faith upon validity of an exemption; specifying that the taxpayer first pay to the vendor the tax and then apply to the State Tax Commissioner for a refund or credit; and alternative use of the direct pay permit number.”