H. B. 2830
(By Delegates Kiss, Browning, Compton and Wallace)
(Originating in the House Committee on Finance)
[February 28, 1995]
A BILL to amend and reenact section eight-f, article twenty-one,
chapter eleven of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to the historic
buildings preservation tax credit against the personal income
tax and extending the credit to expire on the last day of
December, one thousand nine hundred ninety-seven.
Be it enacted by the Legislature of West Virginia:
That section eight-f, article twenty-one, chapter eleven of
the code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-8f. Termination of credit by law.
The tax credit allowed by this section shall be terminated on the thirty-first day of December,
one thousand nine hundred ninety-
five one thousand nine hundred ninety-seven: Provided, That for
those rehabilitation projects for which a completed Part 2
(Description of Rehabilitation) of the historic preservation
certification application was filed with the West Virginia division
of culture and history prior to that date and subsequently approved
in accordance with section eight-c of this article, the credit
shall continue to be allowed pursuant to this article.
The West Virginia division of culture and history shall
provide a full disclosure of applications for credit made and of
credits granted pursuant to this section to the joint committee on
government and finance and to the governor annually. The first
report shall be presented on or before the first day of January,
one thousand nine hundred ninety-five.