Tax 110csr1J
H. B. 2755
(By Delegates Mahan, Palumbo,
Cann, Pino and Overington)
[Introduced February 28, 2005; referred to the
Committee on Finance then the Judiciary.]
A BILL to amend §64-7 of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, by adding thereto a new
section, designated §1, relating to authorizing the Tax
Department to promulgate a legislative rule relating to the
valuation of producing and reserve oil and gas for ad valorem
property tax purposes.
Be it enacted by the Legislature of West Virginia:
That §64-7 of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, be amended by adding thereto a new
section, designated §1, to read as follows:
ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO
PROMULGATE LEGISLATIVE RULES.
§64-7-1. Tax Department.
The legislative rule filed in the state register on the twenty-
seventh day of July, two thousand four, under the authority of
section five-a, article one-c, chapter eleven, of this code,
modified by the Tax Department to meet the objections of the legislative rule-making review committee and refiled in the state
register on the twenty-ninth day of November, two thousand four,
relating to the Tax Department (valuation of producing and reserve
oil and gas for ad valorem property tax purposes, 110 CSR 1J), is
authorized.
NOTE: The purpose of this bill is to authorize the Tax
Department to promulgate a legislative rule relating to the
Valuation of Producing and Reserve Oil and Gas for Ad Valorem
Property Tax Purposes.
This section is new; therefore, strike-throughs and
underscoring have been omitted.
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