H. B. 2135
(By Delegates Manuel, Doyle, Rowe and Leach)
[Introduced Janaury 13, 1999; referred to the
Committee on Finance.]
A BILL to amend and reenact section twenty-three-f, article
twenty-four, chapter eleven of the code of West Virginia,
one thousand nine hundred thirty-one, as amended, relating
to continuation of tax credit for qualified historic
rehabilitated buildings investment.
Be it enacted by the Legislature of West Virginia:
That section twenty-three-f, article twenty-four, chapter
eleven of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, be amended and reenacted to read as
follows:
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-23f. Credit allowed for specific taxable years.
Subject to the provisions of section twenty-three-e of this
article, any qualified rehabilitation expenditures made by a taxpayer in
the any taxable year beginning on the first day of
January,
nineteen one thousand nine hundred
and ninety-five,
and
continuing through the taxable year two thousand one, shall be
allowed against the tax imposed by this article in the
applicable
taxable year
beginning on the first day of January nineteen
hundred and ninety-six through the year two thousand one. The tax
commissioner shall require disclosure of information regarding
the credits allowed in section twenty-three-a of this article in
accordance with the provisions of section five-s, article ten of
this chapter.
NOTE: The purpose of this bill is to continue tax credit
for qualified historic rehabilitated buildings investment.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.
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