H. B. 2721
(By Mr. Speaker, Mr. Kiss)
[Introduced February 10, 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 the 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 the credit
authorized in section twenty-three-a of this article, for investment in a rehabilitated building 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 thereafter, 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 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 retroactively continue
the tax credit for qualified historic rehabilitated buildings
investment for years starting in 1995.
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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