ENROLLED
Senate Bill No. 2001
(By Senators Tomblin, Mr. President, and Sprouse,
By Request of the Executive)
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[Passed November 14, 2006; in effect ninety days from passage.]
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AN ACT
to amend and reenact §11-21-21 of the Code of West Virginia,
1931, as amended, relating to personal income taxes generally;
increasing the amount of the senior citizens' and disabled
persons' refundable personal income tax
credit for certain ad
valorem property taxes paid; and authorizing the Tax
Commissioner to not provide a refund of the credit if the
amount of the refund is less than ten dollars.
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 ten thousand dollars of taxable assessed value
of a homestead in this state; tax credit for
property tax paid on first twenty thousand dollars of value for property tax years after December 31,
2006.
(a)
Allowance of credit.--
(1) 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, except as provided in subdivision (2) of this
subsection.
(2) For tax years beginning on or after the first day of
January, two thousand seven, 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 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
seven.
(3) Due to the administrative cost of processing, the refundable credit authorized by this section may not be refunded if
less than ten dollars.
(4) 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) (A) For tax years beginning before the first day of
January, two thousand seven,
"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, except as provided in paragraph (B)
of this subdivision.
(B) For tax years beginning on or after the first day of
January, two thousand seven,
"taxes paid" means the aggregate of
regular levies, excess levies and bond levies extended against not
more than twenty 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 seven
.
(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.