FISCAL NOTE
Date Requested: February 23, 2026
Time Requested: 09:48 AM |
| Agency: |
Commerce, WV Dept of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 4095 |
Introduced |
SB939 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
General Revenue - Personal Services
Sources of Revenue:
General Fund
Legislation creates:
Creates New Expense, Creates New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
Under the proposed West Virginia Reshoring Manufacturing Act, the Division of Economic Development is responsible for administering the reshoring tax credit by establishing application procedures, setting verification standards for independent certified public accountants, and creating credit guidelines subject to the Tax Commissioner's approval. The Division is tasked with evaluating applications to determine taxpayer eligibility, verifying the qualification of in-state manufacturers, and validating both initial and continued reshoring activities. Upon a taxpayer fulfilling all stipulations—including a written agreement to delay filing a claim until the Tax Commissioner is officially notified—the Division approves the credit, issues a document granting the credit, and reports this qualification data to the Tax Commissioner. Finally, the Division holds the authority to propose legislative rules necessary to implement and enforce the Act.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
50,000 |
50,000 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
The potential fiscal impact was calculated based on allocating an employee's time to the development, management, and ongoing maintenance of this new program.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: Garner Marks
Email Address: garner.marks@wv.gov