HB4558 SFAT #Blair 3-6

Johnson  7909

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

Eng. House Bill No. 4558 – A BILL to amend and reenact §11-10-14a of the Code of West Virginia, 1931, as amended;  to further amend said code by adding thereto a new article, designated §11-13FF-1, §11-13FF-2, §11-13FF-3, §11-13FF-4 and §11-13FF-5; to further amend said code by adding thereto a new article, designated §11-13-GG-1, §11-13GG-2, §11-13GG-3, §11-13GG-4, §11-13GG-5, §11-13GG-6 and §11-13GG-7; and to amend and reenact §11-15-9 of said code, all relating generally to taxation; creating various deductions, exemptions and credits, relating to allowing certain deductions to be made from individual personal income tax refunds for specified purpose; providing check-off for nursing home and health care for aged and disabled veterans in the West Virginia Veterans Home; providing check-off for purposes of operating and maintaining the Donel C. Kinnard Memorial State Veterans Cemetery; creating an exemption for the State Sales and Use Tax for the rental of equipment among corporations with a minimum of 50 percent common ownership; creating the High-Wage Growth Business Tax Credit Act; defining terms; allowing no more than $5 million in tax credits from the Development Office; setting out an application process; providing for factors to be considered in granting the application; setting out eligibility requirements; creating a personal income tax credit for volunteer firefighters in West Virginia; providing findings and purpose; providing definitions; providing nonrefundable tax credit for a volunteer firefighter against personal income tax in a taxable year; providing for a tax credit limitation of $1,000 for a single person; providing for a tax credit limitation of $2,000 for persons filing tax returns jointly under certain conditions; providing that the tax credit for volunteer firefighters must be used in the taxable year and cannot be carried forward; providing for documentation of eligibility for the tax credit; providing requirements for the documentation evidencing eligibility for the tax credit; providing that documentation must be sent to the Tax Commissioner; providing for reporting at certain time; providing for rule-making authority; and providing an effective date.

Adopted

Rejected