H. B. 2830
(By Delegates Kiss, Browning, Compton, and Wallace)
(Originating in the House Committee on Finance)
[February 28, 1995]
A BILL to amend and reenact section eight-f, article twenty-one,
chapter eleven of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to the historic
buildings preservation tax credit against the personal income
tax and extending the credit to expire on the last day of
December, one thousand nine hundred ninety-seven.
Be it enacted by the Legislature of West Virginia:
That section eight-f, article twenty-one, chapter eleven of
the code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-8f. Termination of credit by law.
The tax credit allowed by this section shall be terminated on the thirty-first day of December,
one thousand nine hundred ninety-
five one thousand nine hundred ninety-seven, unless review of the
tax credit shall be undertaken pursuant to the provisions of
sections nine, ten and eleven, article ten, chapter four of this
code:
Provided,
That for those rehabilitation projects for which
a completed Part 2 (Description of Rehabilitation) of the historic
preservation certification application was filed with the West
Virginia division of culture and history prior to that date and
subsequently approved in accordance with section eight-c of this
article, the credit shall continue to be allowed pursuant to this
article.
The West Virginia division of culture and history shall
provide a full disclosure of applications for credit made and of
credits granted pursuant to this section to the joint committee on
government and finance and to the governor annually. The first
report shall be presented on or before the first day of January,
one thousand nine hundred ninety-five.