FISCAL NOTE
Date Requested: January 26, 2026
Time Requested: 02:21 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2084 |
Introduced |
HB4802 |
|
|---|
| CBD Subject: |
Real and Personal Property |
|---|
|
FUND(S):
General Revenue Fund
Sources of Revenue:
General Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to provide a credit for qualified rehabilitated buildings investment under the corporation net income tax.
Per our interpretation, the potential impact to General Revenue Fund collections would for the most part relate to timing with the impact being revenue neutral over the short term. Longer term, there could be losses related to credit which was sold/assigned/transferred and/or claimed, and the project is then not fully completed and functional.
Additional administrative costs incurred by the State Tax Department would be $1,100 in FY2026, $46,450 in FY2027, and $44,800 in subsequent fiscal years.
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 |
1,100 |
46,450 |
44,800 |
| Personal Services |
0 |
44,800 |
44,800 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
1,650 |
0 |
| Other |
1,100 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Per our interpretation, the potential impact to General Revenue Fund collections would for the most part relate to timing with the impact being revenue neutral over the short term. Longer term, there could be losses related to credit which was sold/assigned/transferred and/or claimed, and the project is then not fully completed and functional.
Additional administrative costs incurred by the State Tax Department would be $1,100 in FY2026, $46,450 in FY2027, and $44,800 in subsequent fiscal years.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: RADfiscal@wv.gov