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Introduced Version House Bill 2755 History

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hb2755 intr 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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