SB1004 SFAT Romano 5-5

Baker 7916

Senator Romano moves to amend the title of the bill by striking out the existing title and inserting in lieu thereof a new title that reads:

Eng. Senate Bill 1004--A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-13A-3f; to amend and reenact §11-15-3, §11-15-9, §11-15-9b and §11-15-9h; to further amend said code by adding thereto a new section, designated §11-15-3d; to amend and reenact §11-15A-2 of said code; to amend and reenact §11-21-8a and §11-21-8e of said code; that said code be amended by adding thereto two new sections, designated §11-21-4g and §11-21-12j; that said code be amended by adding thereto a new section, to amend and reenact §11-24-23a of said code; and that said code be amended by adding thereto a new section, designated §11-24-4c, all relating generally to taxation; imposing graduated rate severance tax on privilege of producing coal as of specified date; increasing rate of consumers sales and service tax as of specified date; imposing tax on telecommunication services and ancillary telecommunication services as of specified date; adding or eliminating certain exemptions from consumers sales and service tax as of specified date; increasing rate of compensating use tax as of specified date; reducing number of classifications and rates of personal income tax as of January 1, 2018; providing for phase-out of personal income tax and specifying triggering event; imposing temporary additional income tax on persons with West Virginia taxable incomes of $100,000 or more and on married person filing separate return with West Virginia taxable income of $50,000 or more as of specified date; exempting military retirement income from personal income tax after specified date; increasing amount of credit allowed against personal and corporation net income taxes for qualified rehabilitation expenditures made after specified date; temporarily increasing rate of corporation net income tax; and making technical corrections in various sections.”