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Introduced Version House Bill 2781 History

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Key: Green = existing Code. Red = new code to be enacted
H. B. 2781


(By Delegate Guthrie)

[Introduced February 24, 2009; referred to the

Committee on Energy, Industry and Labor, Economic Development and Small Business then Finance.]





A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-24-11c, relating to providing a tax credit to sawmills that become certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System.

Be it enacted by the Legislature of West Virginia:

That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-24-11c, to read as follows:

ARTICLE 24. CORPORATION NET INCOME TAX.

§11-24-11c. Credit for sawmills becoming certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System .

(a)
General. -- A credit shall be allowed against the primary tax liability of an eligible taxpayer under this article for the cost of
a sawmill to become certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System .
(b)
Definitions. -- For purposes of this section, the term:
(1) "Eligible taxpayer" means a business whose primary purpose is being a sawmill.
(2) "Cost of
a sawmill to become certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System " means the reasonable and necessary sums of money spent by the taxpayer in receiving that certification.
(c)
Amount of credit. -- The amount of the credit available to any eligible taxpayer shall be equal to its cost of
becoming certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System , less any reimbursement of said cost which the taxpayer has received through any other means.
(d)
When credit may be taken. -- An eligible taxpayer may claim a credit allowed under this section on its annual return for the taxable year in which it receives certification.
(e)
Application of credit. -- The credit allowable by this section for a taxable year is not subject to the fifty percent limitation specified in section nine of this article, and any unused credit may be carried over to each of the next three taxable years following the unused credit year until used or forfeited due to lapse of time.
(f)
Copy of certification order. -- A copy of the certification
by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System must be attached to any annual return under this article on which a credit allowed by this section
is taken.




NOTE: The purpose of this bill is to
provide a tax credit to sawmills that become certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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