Senate Bill No. 182
(By Senators Kessler (Mr. President) and M. Hall,
By Request of the Executive)
[Introduced February 15, 2013; referred to the Committee on
Economic Development; and then to the Committee on Finance .]
A BILL to amend and reenact §11-13X-5 of the Code of West Virginia,
1931, as amended, relating to lowering the total amount of tax
credits available in a given fiscal year under the Film
Industry Investment Act.
Be it enacted by the Legislature of West Virginia:
That §11-13X-5 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 13X. WEST VIRGINIA FILM INDUSTRY INVESTMENT ACT.
§11-13X-5. Amount of credit allowed; limitation of the credits.
(a) Base allowance. --
The amount of credit allowed to every eligible company, except
as provided in subsection (b) of this section,
shall be is
(b) Extra allowance for hiring of local workers. -- Any amount
allowed in subsection (a) of this section shall be increased by an
additional four percent if the eligible company, or its authorized
payroll service company, employs ten or more West Virginia
residents as part of its full-time employees working in the state
or as apprentices working in the state.
(c) Application of the credits. -- The tax credit allowed
under this section shall be applied to the eligible company's state
tax liability as provided in section seven of this article.
(d) Limitation of the credits. -- No more than
$10 $5 million
of the tax credits shall may be allocated by the Film Office in any
given West Virginia state fiscal year. The Film Office shall
allocate the tax credits in the order the applications therefor are
NOTE: The purpose of this bill is to is to lower the total
amount of tax credits available in a given fiscal year.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would