ENROLLED
COMMITTEE SUBSTITUTE
FOR
H. B. 2570
(By Delegates Hunt, Compton, Jenkins,
Linch, Faircloth and Riggs)
[Passed March 10, 1999; in effect from passage.]
AN ACT to amend and reenact sections one, two and three, article
seven, chapter sixty-four of the code of West Virginia, one
thousand nine hundred thirty-one, as amended, all relating
generally to the promulgation of administrative rules by the
various executive or administrative agencies and the
procedures relating thereto; legislative mandate or
authorization for the promulgation of certain legislative
rules by various executive and administrative agencies of the
state; authorizing certain of the agencies to promulgate
certain legislative rules in the form that the rules were
filed in the state register; authorizing certain of the
agencies to promulgate legislative rules as amended by the
Legislature; authorizing certain of the agencies to promulgate
legislative rules with various modifications presented to and recommended by the legislative rule-making review committee;
authorizing the division of banking to promulgate a
legislative rule relating to permissible additional charges in
connection with a consumer credit sale; authorizing the
division of banking to promulgate a legislative rule relating
to the sale of insurance products by state-chartered banks;
authorizing the insurance commissioner to promulgate a
legislative rule relating to individual accident and sickness
insurance minimum standards; authorizing insurance
commissioner to promulgate a legislative rule relating to
AIDS; authorizing the insurance commissioner to promulgate a
legislative rule relating to individual and employer group
minimum benefits accident and sickness insurance policies;
insurance commissioner to promulgate a legislative rule
relating to group accident and sickness insurance minimum
policy coverage standards; authorizing insurance commissioner
to promulgate a legislative rule relating to recognizing
annuity mortality tables for use in determining reserve
liabilities for annuities; authorizing the insurance
commissioner to promulgate a legislative rule relating to
group accident and sickness insurance issuance, portability
and marketing requirements; insurance commissioner to promulgate a legislative rule relating to the guaranteed issue
of individual accident and sickness insurance; authorizing the
insurance commissioner to promulgate a legislative rule
relating to quality assurance; authorizing the state tax
commissioner to promulgate a legislative rule relating to the
valuation of active and reserve coal property for ad valorem
property tax purposes; authorizing the state tax commissioner
to promulgate a legislative rule relating to the valuation of
producing and reserve oil and natural gas for ad valorem
property tax purposes; authorizing the state tax commissioner
to promulgate a legislative rule relating to the valuation of
natural resources property other than coal, oil or natural gas
for ad valorem property tax purposes; authorizing the tax
commissioner to promulgate a legislative rule relating to the
electronic data processing system network for property tax
administration; authorizing the state tax commissioner to
promulgate a legislative rule relating to the property tax
valuation of certain manufacturing property; authorizing the
state tax commission to promulgate a legislative rule relating
to tax credits for new value-added wood manufacturing
facilities; authorizing the state tax commissioner to
promulgate a legislative rule relating to tax credits for new
steel, aluminum or polymer manufacturing operations; authorizing the state tax commissioner to promulgate a
legislative rule relating to the value of timberland and
managed timberland; authorizing the state tax commissioner to
promulgate a legislative rule relating to the valuation of
public utility property for ad valorem property tax purposes;
and authorizing the department of tax and revenue to
promulgate a legislative rule relating to the registration of
telemarketers.
Be it enacted by the Legislature of West Virginia:
That sections one, two and three, article seven, chapter
sixty-four of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, be amended and reenacted to read as
follows:
ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO
PROMULGATE LEGISLATIVE RULES.
§64-7-1. Division of banking.
(a) The legislative rule filed in the state register on the
thirty-first day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section four, article two,
chapter thirty-one-a of this code, relating to the division of
banking (permissible additional charges in connection with a
consumer credit sale, 106 CSR 11), is authorized.
(b) The legislative rule filed in the state register on the
thirty-first day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section thirteen, article four,
chapter thirty-one-a of this code, modified by the division of
banking to meet the objections of the legislative rule-making
review committee and refiled in the state register on the seventh
day of October, one thousand nine hundred ninety-eight, relating to
the division of banking (sale of insurance products by state- chartered banks, 106 CSR 2), is authorized.
§64-7-2. Department of tax and revenue; and state tax
commissioner.
(a) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section five, article one-c,
chapter eleven of this code, modified by the state tax commissioner
to meet the objections of the legislative rule-making review
committee and refiled in the state register on the seventh day of
January, one thousand nine hundred ninety-nine, relating to the
state tax commissioner (valuation of active and reserve coal
property for ad valorem property tax purposes, 110 CSR 1I), is
authorized with the amendment set forth below:
"On page twelve, section 4.1.7.1.e, line seven, following the words "Tax Commissioner" and the period, by inserting the following
words: "Beginning in Tax Year 2003, the inflation rate shall be
estimated through analysis of the most recent three calendar years
of an appropriate United States Department of Labor, Bureau of
Labor Statistics price index, as determined by the Tax
Commissioner."
(b) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section five, article one-c,
chapter eleven of this code, modified by the state tax commissioner
to meet the objections of the legislative rule-making review
committee and refiled in the state register on the thirtieth day of
October, one thousand nine hundred ninety-eight, relating to the
state tax commissioner (valuation of producing and reserve oil and
natural gas for ad valorem property tax purposes, 110 CSR 1J), is
authorized.
(c) The legislative rule filed in the state register on the
twenty-ninth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of sections five and five-a, article
one-c, chapter eleven of this code, modified by the state tax
commissioner to meet the objections of the legislative rule-making
review committee and refiled in the state register on the thirtieth day of October, one thousand nine hundred ninety-eight, relating to
the state tax commissioner (valuation of natural resources property
other than coal, oil or natural gas for ad valorem property tax
purposes, 110 CSR 1K), is authorized.
(d) The legislative rule filed in the state register on the
twenty-ninth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section twenty-one, article one- a, and section four, article one-c, chapter eleven of this code,
modified by the state tax commissioner to meet the objections of
the legislative rule-making review committee and refiled in the
state register on the seventeenth day of November, one thousand
nine hundred ninety-eight, relating to the state tax commissioner
(electronic data processing system network for property tax
administration, 110 CSR 2), is authorized.
(e) The legislative rule filed in the state register on the
twenty-first day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section five, article six-f,
chapter eleven of this code, modified by the state tax commissioner
to meet the objections of the legislative rule-making review
committee and refiled in the state register on the seventh day of
January, one thousand nine hundred ninety-nine, relating to the
state tax commissioner (property tax valuation of certain manufacturing property, 110 CSR 6F), is authorized.
(f) The legislative rule filed in the state register on the
twenty-first day of July, one thousand nine hundred ninety-eight,
authorized under the authority of sections seven, eight and ten,
article thirteen-m, chapter eleven of this code, modified by the
state tax commissioner to meet the objections of the legislative
rule-making review committee and refiled in the state register on
the seventeenth day of November, one thousand nine hundred ninety- eight, relating to the state tax commissioner (tax credits for new
value-added wood manufacturing facilities, 110 CSR 13M), is
authorized.
(g) The legislative rule filed in the state register on the
twenty-first day of July, one thousand nine hundred ninety-eight,
authorized under the authority of sections seven, eight and ten,
article thirteen-n, and sections seven, eight and ten, article
thirteen-o, chapter eleven of this code, modified by the state tax
commissioner to meet the objections of the legislative rule-making
review committee and refiled in the state register on the
seventeenth day of November, one thousand nine hundred ninety- eight, relating to the state tax commissioner (tax credits for new
steel, aluminum or polymer manufacturing operations, 110 CSR 13N),
is authorized with the amendment set forth below:
"On page 2, section 2.3 by striking out the entire section and
inserting in lieu thereof the words "2.3 "Full-time employee"
means a permanent hourly employee of an eligible taxpayer, who is
a West Virginia domiciled resident, and works in a new value-added
steel product manufacturing facility in this state, or in a new
value-added steel product line of an existing manufacturing
facility in this state, more than eighteen hundred hours during the
entire twelve-month period ending on the last day of the taxable
year of the eligible employer, whether these hours are hours worked
at the manufacturing facility, or include hours of employer paid
vacation leave or other employer paid leave. Full-time employee
does not include an employee who is a part-time, seasonal or
temporary employee.",
And,
On page four, section 5.1, following the word "Code" by
striking out "§11-13M-7" and inserting in lieu thereof "§11-13N- 7"."
(h) The legislative rule filed in the state register on the
twenty-ninth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section eleven-b, article one-c,
chapter eleven of this code, modified by the state tax commissioner
to meet the objections of the legislative rule-making review committee and refiled in the state register on the seventeenth day
of November, one thousand nine hundred ninety-eight, relating to
the state tax commissioner (value of timberland and managed
timberland, 110 CSR 1H), is authorized with the amendment set forth
below:
"on page 7, section 10, by inserting the following sentence at
the end of the section:
'In no case may managed timberland values for class III and IV
property be lower than $225 per acre for Grade 1; $150 per acre for
Grade 2; $75 per acre for Grade 3, and class II properties may not
be lower than $200 per acre for Grade 1; $140 per acre for Grade 2;
and $50 per acre for Grade 3.'"
(i) The legislative rule filed in the state register on the
twenty-ninth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section seven-b, article six,
section one, article six-g, and section five, article one-c,
chapter eleven of this code, modified by the state tax commissioner
to meet the objections of the legislative rule-making review
committee and refiled in the state register on the fifteenth day of
January, one thousand nine hundred ninety-nine, relating to the
state tax commissioner (valuation of public utility property for ad
valorem property tax purposes, 110 CSR 1M), is authorized with the amendment set forth below:
On page two, by striking-out all of subsection 2.5;
On page two, by striking-out all of subsection 2.7 and
inserting in lieu thereof a new subsection 2.7 to read as follows:
"§2.7
"Fair market value" means the highest price in terms of
money that a property will bring in a competitive and open market,
assuming that the buyer and seller are acting prudently and
knowledgeably, allowing sufficient time for the sale and assuming
that the price is not affected by undue stimulations.";
On page four, subsection 3.1, after the word "generally," by
inserting the words "when the cost approach is used,";
On page four, subsection 3.1, after the word "purposes," by
striking-out the period and inserting in lieu thereof a colon and
the word "however,";
On page four, by striking-out all of subdivision 3.1.1, and
inserting in lieu thereof new subdivision 3.1.1 to read as follows:
" 3.1.1 When the income approach is used, the unit of value
shall be allocated to the state of West Virginia using operating
plant data after which;"
On page five, subdivision 3.1.2, by striking-out the word
"property" and inserting in lieu thereof the words "physical
plant";
On page five, by striking-out all of subdivision 4.2.1 and
inserting in lieu thereof a new subdivision 4.2.1 to read as
follows:
"4.2.1
Cost approach. -- Recognizing that public service
corporations are predominantly cost regulated, when the cost
approach is used in the valuation process, original cost less
applicable depreciation shall be employed. In applying the cost
approach, the tax commissioner shall consider three (3) types of
depreciation; (a) physical deterioration, (b) functional
obsolescence, and (c) economic obsolescence.";
On page five, subdivision 4.2.2 after the word "interest" by
striking-out the word "expense" and inserting in lieu thereof "on
long-term debt";
On page six, by striking-out all of subdivision 4.2.4;
On page six, subdivision 4.2.5 after the word "process" by
changing the colon to a period and by striking-out the remainder of
the subdivision;
On page eight, by striking-out all of subdivision 4.3.13;
And,
On page ten, by adding the new subsection 6.5 to read as
follows:
"The Tax Commissioner, for good cause shown, may grant an extension of filing deadlines."
(j) The legislative rule filed in the state register on the
thirty-first day of July, one thousand nine hundred ninety-eight,
authorized under the authority of sections three hundred one and
three hundred three, article six-f, chapter forty-six-a of this
code, modified by the department of tax and revenue to meet the
objections of the legislative rule-making review committee and
refiled in the state register on the twelfth day of January, one
thousand nine hundred ninety-nine, relating to the department of
tax and revenue (registration of telemarketers, 119 CSR 301), is
authorized.
§64-7-3. Insurance commissioner.
(a) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section ten, article two, chapter
thirty-three of this code, relating to the insurance commissioner
(individual accident and sickness insurance minimum standards, 114
CSR 12), is authorized.
(b) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section ten, article two, chapter
thirty-three of this code, relating to the insurance commissioner (AIDS, 114 CSR 27), is authorized.
(c) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section ten, article two, chapter
thirty-three of this code, relating to the insurance commissioner
(individual and employer group minimum benefits accident and
sickness insurance policies, 114 CSR 33), is authorized.
(d) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section seventeen, article
sixteen, chapter thirty-three of this code, relating to the
insurance commissioner (group accident and sickness insurance
minimum policy coverage standards, 114 CSR 39), is authorized.
(e) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section nine-a, article seven,
chapter thirty-three of this code, relating to the insurance
commissioner (recognizing annuity mortality tables for use in
determining reserve liabilities for annuities, 114 CSR 45), is
authorized.
(f) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight, authorized under the authority of section ten, article two, chapter
thirty-three of this code, relating to the insurance commissioner
(group accident and sickness insurance issuance, portability and
marketing requirements, 114 CSR 54), is authorized.
(g) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section ten, article two, chapter
thirty-three of this code, relating to the insurance commissioner
(guaranteed issue of individual accident and sickness insurance,
114 CSR 55), is authorized.
(h) The legislative rule filed in the state register on the
thirtieth day of July, one thousand nine hundred ninety-eight,
authorized under the authority of section ten, article two, chapter
thirty-three of this code, modified by the insurance commissioner
to meet the objections of the legislative rule-making review
committee and refiled in the state register on the eighteenth day
of December, one thousand nine hundred ninety-eight, relating to
the insurance commissioner (quality assurance, 114 CSR 53), is
authorized.
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