WEST virginia Legislature
2019 regular session
Introduced
House Bill 2957
[Introduced February 11, 2019;
Referred
to the Committee on Energy then Finance.]
A BILL to amend the Code
of West Virginia, 1931, as amended, by adding thereto a new article, designated
§11-21-12j, relating to permitting residential customers of electric utilities
to deduct up to 50 percent of their electric utility payments from their federal
adjusted gross income for personal income tax purposes.
Be it enacted by the
Legislature of West Virginia:
§11-21-12j.
Additional modification reducing federal adjusted gross income.
In addition to amounts
authorized to be subtracted from federal adjusted gross income pursuant to
§11-21-12(c) of this code, a residential customer of an electric utility also
has an authorized modification reducing federal adjusted gross income in an
amount not to exceed 50 percent of that customer’s electric utility payments in
each taxable year.
NOTE: The purpose of this bill is to
permit residential customers of electric utilities to deduct up to 50 percent
of their electric utility payments from their federal adjusted gross income for
personal income tax purposes.
Strike-throughs indicate language
that would be stricken from a heading or the present law and underscoring
indicates new language that would be added.