HB2897 S ECD AM #1

Ojeda 7853

The Committee on Economic Development moved to amend the bill by striking out everything after the enacting clause and inserting in lieu thereof the following:

That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §59-1-2c; and by adding thereto a new section, designated §59-1-2d to read as follows:

ARTICLE 1. FEES AND ALLOWANCES.

§59-1-2c. Young Entrepreneur Reinvestment Act; certain fees waived.

(a) Beginning on July 1, 2016, a person who is under the age of thirty who resides within West Virginia is exempt from paying the fees provided in section two of this article for filing:

(1) Articles of incorporation of a domestic, for-profit corporation, for which he or she is an incorporator;

(2) Articles of incorporation of a domestic, nonprofit corporation for which he or she is an incorporator;

(3) Articles of organization of a domestic limited liability company, for which he or she is a member;

(4) Agreement of a domestic general partnership, for which he or she is a partner; or

(5) Certificate of a domestic limited partnership, for which he or she is a partner.

(b) This section is effective until and through June 30, 2018. After June 30, 2018, this section is no longer in force and effect.

'59‑1‑2d. Voluntary donation of certain refunds.

The Secretary of State shall provide a mechanism by which any overpayment of $25 or less of any fee authorized by this or any other chapter of this code to the Secretary of State may be deposited in the West Virginia Children’s Trust Fund authorized by section four hundred one, article two, chapter forty-nine of this code: Provided, That the person due the refund must voluntarily and affirmatively choose to donate the amount of the refund to the West Virginia Children’s Trust Fund.