SB1017 SFAT Ferns 6-15

Baker 7816

Senator Ferns moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. Senate Bill No. 1017 -- A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-13A-3f; to amend and reenact §11-15-2, §11-15-3, §11-15-9, §11-15-9b and §11-15-9h of said code; to amend said code by adding thereto three new sections, designated §11-15-3d, §11-15-3e and §11-15-35; to amend and reenact §11-15A-2 and §11-15A-10 of said code; to amend said code by adding thereto two new sections, designated §11-21-4g and §11-21-4h; to amend and reenact §11-21-8a, §11-21-8e, §11-21-12 and §11-21-16 of said code; and to amend and reenact §11-24-23a and §11-24-23e of said code, all relating generally to the Tax Reform Act of 2017; imposing graduated rate severance tax on privilege of producing coal as of specified date and defining certain terms; increasing rate of consumers sales and service tax as of specified date and providing for rate reduction when certain criteria are met; imposing tax on telecommunication services and ancillary telecommunication services as of specified date; imposing tax on digital code, digital products and digital services as of specified date, and with respect thereto defining certain terms; eliminating or narrowing certain exemptions from consumers sales and service tax as of specified date; providing consumer sales and service tax exemption for services of professional employer organizations; allowing emergency legislative rules if promulgated by specified date; increasing rate of use tax as of specified date and providing corresponding rate reduction when rate of general consumers sales and service tax reduces; imposing new personal income tax rates for taxable years beginning on and after specified date; providing for further rate reductions when conditions are satisfied; exempting military retirement income from personal income tax after specified date; allowing a decreasing deduction for taxable Social Security under specified circumstances; increasing personal income tax exemption under certain circumstances; authorizing rebates of 2016 personal income tax paid by certain persons; increasing amount of credit allowed against personal and corporation net income taxes for qualified building rehabilitation expenditures made after specified date; establishing limitations on carryback and carryforward of credit for qualified building rehabilitation expenditures; and making technical corrections in various sections.

Adopted

Rejected