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Engrossed Version Senate Bill 227 History

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Senate Bill No. 227

(By Senators Bailey, Bowman, Foster, Hunter, Love,

Sharpe, Unger, Minard, Dempsey, Jenkins and Weeks)


[Originating in the Committee on Finance;

reported March 22, 2005.]


A BILL to amend and reenact §11-5-1 of the Code of West Virginia, 1931, as amended, relating to exempting one motor vehicle owned by a resident of this state on active duty in the United States military from ad valorem taxes for any taxable year the person is on active duty.

Be it enacted by the Legislature of West Virginia:
That §11-5-1 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:
§11-5-1. What personal property taxable.
All personal property belonging to persons residing in this state, whether such the property be in or out of the state, and all personal property in the state, though owned by persons residing out of the state, shall be entered in the personal property book and be subject to equal and uniform taxation, except as classified in section four, article eight of this chapter, unless especially exempted by law; but personal property of all classes, except as hereinbefore provided, belonging to the residents of this state, which is actually and permanently located in another state and by the laws of such the other state is subject to taxation and is actually taxed in such the other state, shall not be entered on the personal property book or be taxed in this state: Provided, That one motor vehicle, located in this state while the owner or part owner is a resident of this state and is serving on active duty in the military services of the United States and is stationed outside this state on the first day of July of any assessment year is exempt from the ad valorem property taxes for that tax year. But the shares of capital stock owned by residents of this state in corporations actually located in other states, and whose property is taxed by the laws of such the other state, shall not be required to be listed for taxation. Any person who at any time before the assessment year transfers by loan, deposit or gift any notes, bonds, bills and accounts receivable, stocks and other intangible personal property which are subject to taxation to anyone who does not return a list of taxation as of the day on which the assessment year commences, including such the property, transfers, loans, deposits or gifts, if made with intention of evading taxation, shall be deemed and treated as is illegal and fraudulent and the assessor shall assess such the property for taxation to the party who makes such the transfers, loans, deposits or gifts as aforesaid.
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