H. B. 4357
(By Delegates White, DeLong, Shook, Webster,
Boggs, Kominar and Anderson)
[Introduced January 31, 2008; referred to the
Committee on Finance.]
A BILL to amend and reenact §11-13J-12 of the Code of West
Virginia, 1931, as amended, relating to extending the
Neighborhood Investment Program Act and eligibility for tax
credits under the act.
Be it enacted by the Legislature of West Virginia:
That §11-13J-12 of the Code of West Virginia, 1931, as
amended, be amended and reenacted to read as follows:
ARTICLE 13J. NEIGHBORHOOD INVESTMENT PROGRAM.
§11-13J-12. Program evaluation; expiration of credit;
preservation of entitlement.
Beginning on the fifteenth day of December, two thousand five,
and every second year thereafter, the director shall secure an
independent review of the neighborhood investment program created
by this article and present the findings to the Joint Committee on
Government and Finance. Unless sooner terminated by law, the Neighborhood Investment Program Act
shall terminate terminates on
the first day of July, two thousand
eight eleven. There is no
entitlement to the tax credit under this article
shall result from
any for a contribution made to
any a certified project after the
first day of July, two thousand
eight eleven, and no credit
shall
be is available to any taxpayer for any contribution made after
that date. Taxpayers which have gained entitlement to the credit
pursuant to eligible contributions made to certified projects prior
to the first day of July, two thousand
eight eleven, shall retain
that entitlement and apply the credit in due course pursuant to the
requirements and limitations of this article.
NOTE: The purpose of this bill is to extend Neighborhood
Investment Program Act, and eligibility for tax credits under the
act, until July 1, 2011.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.