HB3072 S ENERGY, INDUSTRY AND MINING AMT

Burrell 4483

    The Committee on Energy, Industry and Mining moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

    Eng. Com. Sub. for House Bill No. 3072--A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article, designated §11-13DD-1, §11-13DD-2, §11-13DD-3, §11-13DD-4 and §11-13DD-5, all relating to providing a tax credit to taxpayers who increase their consumption of West Virginia coal in this state; making legislative findings; defining terms; providing for determination of base year consumption amounts; establishing the rate and method of calculation of the credit; providing for carryover of unused credits; establishing an effective date for application of the credit; providing a mechanism for certification of the amount of coal purchased by eligible taxpayers; and providing for recapture of improperly claimed credits, along with interest and penalties in certain circumstances, and establishing a period of limitation for recapture of claimed credits.

Adopted

Rejected