FISCAL NOTE
Date Requested: January 28, 2026
Time Requested: 03:21 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3122 |
Introduced |
SB622 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
General Revenue Fund
Sources of Revenue:
General Fund
Legislation creates:
Decreases Existing Revenue, Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to extend the termination date of the Innovative Mine Safety Technology Credit.
Per our interpretation, the bill would extend the expiration date of the West Virginia Innovative Mine Safety Technology Tax Credit (Mine Safety Technology Credit) from December 31, 2025, to December 31, 2028. A coal mining company that invests in approved mine safety technology is eligible for a credit against the Corporation Net Income Tax. The credit is equal to fifty percent of the investment in eligible safety equipment. The credit is applied over a five-year period. No more than $2 million in credit may be approved by the West Virginia Office of Miner’s Health, Safety and Training in any fiscal year. Additionally, an eligible taxpayer may not use more than $100,000 of the credit in any taxable year.
According to our interpretation, the bill, if passed, would have a minimal impact on General Revenue Fund collections. This credit program has had limited use in recent years.
Additional administrative costs incurred by the State Tax Division would be $1,100 in FY2026.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
1,100 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
1,100 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Per our interpretation, the bill would extend the expiration date of the West Virginia Innovative Mine Safety Technology Tax Credit (Mine Safety Technology Credit) from December 31, 2025, to December 31, 2028. A coal mining company that invests in approved mine safety technology is eligible for a credit against the Corporation Net Income Tax. The credit is equal to fifty percent of the investment in eligible safety equipment. The credit is applied over a five-year period. No more than $2 million in credit may be approved by the West Virginia Office of Miner’s Health, Safety and Training in any fiscal year. Additionally, an eligible taxpayer may not use more than $100,000 of the credit in any taxable year.
According to our interpretation, the bill, if passed, would have a minimal impact on General Revenue Fund collections. This credit program has had limited use in recent years.
Additional administrative costs incurred by the State Tax Division would be $1,100 in FY2026.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: RADfiscal@wv.gov