H. B. 2715
(By Delegates Walters, M. Poling and Paxton)
[Introduced January 13, 2010; referred to the
Committee on Energy, Industry and Labor, Economic
Development and Small Business then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-1-1b, relating to
the Economic Fairness Act of 2009; and requiring the Tax
Commissioner to refund to the five counties with the highest
unemployment, twenty percent of the personal income tax
collected.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §11-1-1b, to read as
follows:
ARTICLE 1. SUPERVISION.
§11-1-1b. The Economic Fairness Act of 2009.
(a) It shall be the duty of the Tax Commissioner to designate
the five counties with the highest average unemployment during the
previous three years and refund to those counties twenty percent of their personal income tax collections from the previous year:
Provided, That the maximum refund to one county shall not exceed
$500,000.
(b) The refunds provided in subsection (a) of this section
shall be paid to the general fund of the counties with the specific
designation that the refunds be used for projects defined in
section four, article fifteen of chapter thirty-one.
(c) Each of the counties so designated shall submit to the
West Virginia Economic Development Authority an economic
development plan which must first be approved by the authority
before the refunds are released to the counties.
NOTE:
The purpose of this bill is to create the economic
fairness act and encourage economic development in counties with
high unemployment.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.