110 CSR 13Q

Senate Bill No. 325

(By Senator Minard)

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[Introduced January 18, 2012; referred to the Committee on Finance; and then to the Committee on the Judiciary.]

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A BILL to amend and reenact article 7, chapter 64 of the Code of West Virginia, 1931, as amended, relating to authorizing the State Tax Department to promulgate a legislative rule relating to the commercial patent incentives tax credit.

Be it enacted by the Legislature of West Virginia:

    That article 7, chapter 64 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO PROMULGATE LEGISLATIVE RULES.

§64-7-1. State Tax Department.

    The legislative rule filed in the State Register on the eighteenth day of July, two thousand eleven, authorized under the authority of section ten, article thirteen-aa, chapter eleven, of this code, modified by the State Tax Department to meet the objections of the Legislative Rule-Making Review Committee and refiled in the State Register on the twenty-second day of November, two thousand eleven, relating to the State Tax Department (commercial patent incentives tax credit, 110 CSR 13Q), is authorized.

    NOTE: The purpose of this bill is to authorize the State Tax Department to promulgate a legislative rule relating to combined returns pursuant to the Commercial Patent Incentives Tax Credit.

    This section is new; therefore, strike-throughs and underscoring have been omitted.