HB2760 SFAT #1 Weld 4-8

Bailey  7853

Senator Weld 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 2760—A Bill to amend and reenact §11-13Q-9, §11-13Q-10, §11-13Q-10a, and §11-13Q-22 of the Code of West Virginia, 1931, as amended; to amend and reenact §11-21-8a of said code; and to amend and reenact §11-24-23a of said code, all relating to economic development incentive tax credits; modifying the economic opportunity tax credit; authorizing the economic opportunity tax credit for the creation of 10 jobs under certain circumstances; eliminating credit to business franchise tax; terminating small business credit after a certain date; authorizing certain manufacturing activities to qualify for high technology manufacturing tax credit; defining terms; limiting certain multiple tax credits for the same qualified investment; striking obsolete reference to prevailing wage requirement; providing effective dates; modifying the credit for qualified rehabilitated buildings investment; eliminating the termination date of the credit; providing for carryback and carryforward provisions for the tax credit; and eliminating the maximum allowable amount of the tax credit.

Adopted

Rejected