ENROLLED
Senate Bill No. 165
(By Senators Boley and Deem)
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[Passed March 13, 1999; in effect ninety days from passage.]
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AN ACT to amend and reenact section two, article thirteen-i,
chapter eleven of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, relating to extending
the expiration of the Colin Anderson employee tax credit to
the thirty-first day of December, two thousand.
Be it enacted by the Legislature of West Virginia:
That section two, article thirteen-i, 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 13I. TAX CREDIT FOR EMPLOYING FORMER EMPLOYEES OF COLIN
ANDERSON CENTER WHO LOST THEIR JOBS DUE TO THE CLOSURE OF COLIN ANDERSON CENTER.
§11-13I-2. Credit allowed; amount and duration of credit;
recapture of credit and effective date.
(a) There shall be allowed to eligible taxpayers a credit against the taxes imposed in articles twenty-one, twenty-three
and twenty-four of this chapter. For the purpose of this
article, "eligible taxpayer" means a person, firm, partnership,
corporation or other entity who employs a person or persons who
lost his or her job as a result of the closure of the Colin
Anderson Center. Such credit shall be in an amount equal to one
half of the cost to the state of unemployment compensation which
shall be determined based on the unemployment compensation cost
to the state of an employee who earns twenty-one thousand dollars
per year and shall be further determined as if such person was
unemployed for and drew a full sixteen weeks of unemployment
benefits. In the event an eligible taxpayer employs more than
one such person, the credit allowed shall be multiplied by the
number of persons so employed.
(b) The credit set forth in this article shall apply to
personal income tax liabilities, corporation net income tax
liabilities and business franchise tax liabilities arising after
the thirty-first day of December, one thousand nine hundred ninety-five. The credit established in this article shall expire
and may not be claimed for those tax years ending after the
thirty-first day of December, one thousand nine hundred ninety-
eight two thousand and in order to claim
this credit an eligible taxpayer shall have employed a person who
lost his or her job after the thirty-first day of December, 31, one
thousand nine hundred ninety-five, as a result of the closing of
Colin Anderson Center and must be employed after said date and
prior to the thirty-first day of December, thirty-one, one thousand nine
hundred ninety-seven ninety-nine.
(c) As a condition of receiving the credit established in
this article, the eligible taxpayer shall employ the person or
persons for a period of time at least equal to one year. In the
event such person is employed for less than one year the credit
herein shall be recaptured at the rate of twenty percent of the
dollar value of the credit for each month under twelve months the
person works.