SENATE CONCURRENT RESOLUTION NO. 79
(By Senators Browning, Klempa, Hall, Stollings, Wells, McCabe, Prezioso, K. Facemyer and Kirkendoll)
[Originating in the Committee on Economic Development]
Requesting the Joint Committee on Government and Finance to conduct a study of tax credits.
Whereas, West Virginia has encountered difficulty with the development and growth of new industries and attracting new businesses to the state; and
Whereas, This difficulty in diversifying and growing the West Virginia economy has caused a loss of employment opportunities for the state’s citizens and decreased the tax base available to provide services to communities; and
Whereas, Other states have seen growth in new business areas and often have offered incentives to spur such development; and
Whereas, Tax credits have been an important method of encouraging economic development and expanding existing businesses and new industries, all of which result in increased opportunities for work and retention of existing workforces; therefore, be it
Resolved by the Legislature of West Virginia:
That the Legislature hereby requests the Joint Committee on Government and Finance to conduct a study of tax credits; and, be it
Further Resolved, That the Legislature hereby requests the Joint Committee on Government and Finance conduct a study of West Virginia tax credits, including the number of existing West Virginia tax credits, their authorized amounts and actual use, a cost–benefit analysis of tax credits given and benefits received, an accounting of the particular tax credit programs, an accountability mechanism and a comparison of West Virginia’s tax credits to those offered by the other states; and, be it
Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 2013, on its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations; and, be it
Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.