Senate Bill No. 2001
(By Senators Tomblin, Mr. President, and Caruth,
By Request of the Executive)
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[Introduced August 19, 2007; referred to the
Committee on Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-21-12h, relating
to an additional modification decreasing federal adjusted
gross income for West Virginia state personal income tax for
certain toll expenses charged by the West Virginia Parkways,
Economic Development and Tourism Authority.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §11-21-12h, to read as
follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-12h. Additional modification reducing federal adjusted
gross income relating to tolls for travel on West Virginia
toll roads and paid electronically through use of parkways
authority commuter (PAC) cards.
(a) For taxable years beginning on and after the first day of
January, two thousand seven, in addition to amounts authorized to be subtracted from federal adjusted gross income pursuant to
subsection (c), section twelve of this article, any payment during
the taxable year for amounts expended by an individual for tolls
paid electronically through use of a West Virginia Parkways,
Economic Development and Tourism Authority PAC card (parkways
authority commuter card) account for noncommercial commuter passes
for travel on toll roads in West Virginia, not including amounts
paid as refundable transponder deposits or amounts reimbursed by an
employer or otherwise, is an authorized modification reducing
federal adjusted gross income, but only to the extent the amount is
not allowable as a deduction when arriving at the taxpayer's
federal adjusted gross income for the taxable year in which the
payment is made. In the case of a single person, a head of
household or a married couple filing a joint return, or a married
person filing a separate return, this authorized modification
reducing federal adjusted gross income shall apply only to the
portion of the expended amount that equals or exceeds twenty five
dollars and the total amount deducted shall not exceed one thousand
two hundred dollars. Any amount of qualified tolls paid and
eligible for this decreasing modification and not used in the
taxable year when paid shall carry forward for up to three taxable
years subsequent to the taxable year when paid. Qualified toll
payments not used by the end of the carry forward period shall be
forfeited. The Tax Commissioner may, but shall not be required to,
adopt regulations necessary or convenient for the implementation of
this section.
(b)The Tax Commissioner annually, on or before the thirty-
first day of December of each calendar year beginning in two
thousand eight, shall certify to the West Virginia Parkways,
Economic Development and Tourism Authority: (i) The total dollar
amount of tolls deducted by individuals under this section on
personal income tax returns filed for the preceding taxable year
beginning with taxable year two thousand seven; and (ii) the total
dollar amount of personal income tax revenue not collected through
the date of such certification solely as a result of such total
toll deductions for such taxable year.
(c) On or before the thirtieth day of June of the following
calendar year beginning in two thousand nine, the West Virginia
Parkways, Economic Development and Tourism Authority shall pay to
the Tax Commissioner an amount equal to such certified total dollar
amount of personal income tax revenue not collected for the taxable
year covered by such certification:
Provided, That the authority
shall make such payment solely from nontoll revenues (that is, from
revenues derived by the authority from sources other than tolls
charged for transit on the West Virginia Turnpike) and only at such
times and in such amounts and installment payments as are permitted
by covenants and agreements of the authority under such bond
indentures and other bond agreements as are then applicable to such
nontoll revenues:
Provided, however, That to the extent required
to comply with such bond indentures and other bond agreements, the
authority may defer the payment of all or a part of such amount
beyond the thirtieth day of June of the following calendar year.
NOTE: The purpose of this bill is to authorize a West Virginia
personal income tax deduction for certain parkways authority
commuter card toll expenses charged by the West Virginia Parkways,
Economic Development and Tourism Authority
.
Section 11-21-12h is new; therefore, strike-throughs and
underscoring have been omitted.