H. B. 204
(By Mr. Speaker, Mr. Kiss, and Delegate Trump)
[By Request of the Executive]
[Introduced November 9, 2006; referred to the
Committee on Finance.]
A BILL to amend and reenact §11-21-21 of the Code of West Virginia,
1931, as amended, relating to personal income tax, and
increasing the amount of the senior citizens' and disabled
persons' tax credit.
Be it enacted by the Legislature of West Virginia:
That §11-21-21 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-21. Senior citizens' tax credit for property tax paid on
first twenty thousand dollars of taxable assessed
value of a homestead in this state.
(a)
Allowance of credit.--
A low-income person who is allowed a twenty thousand dollar
homestead exemption from the assessed value of his or her homestead for ad valorem property tax purposes, as provided in section three,
article six-b of this chapter, shall be allowed a refundable credit
against the taxes imposed by this article equal to the amount of ad
valorem property taxes paid on up to the first ten thousand dollars
of taxable assessed value of the homestead for property tax years
that begin on or after the first day of January, two thousand
three:
Provided, That for tax years beginning on or after the
first day of January, two thousand six, the refundable credit
authorized by this section shall be equal to the amount of ad
valorem property taxes paid on up to the first twenty thousand
dollars of taxable assessed value of the homestead for property tax
years that begin on or after the first day of January, two thousand
six: Provided, however, That due to the administrative cost of
processing, the refundable credit authorized by this section may
not be refunded if less than ten dollars: Provided further, That
the credit for each property tax year shall be claimed by filing a
claim for refund within three years after the due date for the
personal income tax return upon which the credit is first
available.
(b)
Terms defined. --
For purposes of this section:
(1) "Low income" means federal adjusted gross income for the
taxable year that is one hundred fifty percent or less of the
federal poverty guideline for the year in which property tax was paid, based upon the number of individuals in the family unit
residing in the homestead, as determined annually by the United
States Secretary of Health and Human Services.
(2) "Taxes paid" means the aggregate of regular levies, excess
levies and bond levies extended against not more than ten thousand
dollars of the taxable assessed value of a homestead that are paid
during the calendar year determined after application of any
discount for early payment of taxes but before application of any
penalty or interest for late payment of property taxes for a
property tax year that begins on or after the first day of January,
two thousand three.
(c)
Legislative rule. --
The Tax Commissioner shall propose a legislative rule for
promulgation as provided in article three, chapter twenty-nine-a of
this code to explain and implement this section.
(d)
Confidentiality. --
The Tax Commissioner shall utilize property tax information in
the statewide electronic data processing system network to the
extent necessary for the purpose of administering this section,
notwithstanding any provision of this code to the contrary.
NOTE: The purpose of this bill is to increase the amount of
the senior citizens' tax credit against personal income tax.
Strike-throughs indicate language that would be stricken from
present law, and underscoring indicates new language that would be
added.
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