SB2001 HFA Bates 12-16 #3
Delegate Bates moves to amend the bill on page one, following the article heading, by striking out the remainder of the bill and inserting in lieu thereof, the following:
Ҥ5B-2E-11. Termination; conditions on future eligibly for tax credits.
The Development Office may not accept any new project application
after December 31, 2019 2025 and all applications submitted prior
to January 1, 2020 2026 that have not been previously approved or
not approved, shall be deemed not approved and shall be null and void as of
January 1, 2020 2026: Provided, That effective January 1,
2020, any company applying for tax credits pursuant to this article that owns or
is owned by a controlling interest in another company operating in this state
that is not in compliance with state and federal laws, rules or regulations as
required in §5B-2E-8 (a)(5) is prohibited from being deemed an eligible company
until those violations are rectified.”
And,
To amend said title to bill to read as follows:
“A Bill to amend and reenact §5B-2E-11 of the Code of West Virginia, 1931, as amended, relating to extending tax credits for certain tourism development and expansion projects authorized under the West Virginia Tourism Development Act; and limiting eligibility thereto.”