H. B. 2881
(By Delegates Kelley, Perdue, Ennis,
Ashley, Stemple, Givens and Hatfield)
[Introduced February 24, 1999; referred to the
Committee on Finance.]
A BILL to amend article twenty-one, chapter eleven of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
twelve-c, relating to allowing taxpayers a reduction in
their adjusted gross income for gifts made to community
foundations.
Be it enacted by the Legislature of West Virginia:
That article twenty-one, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
twelve-c, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-12c. Contributions to community foundations reducing
state adjusted gross income.
Commencing with the tax year two thousand, for contributions
to community foundations and community trusts, as defined in article six-a, chapter forty-four of this code, resident and
nonresident West Virginia tax payers shall be entitled to a
modification reducing their West Virginia adjusted income in an
amount equal to ten percent of the amount of the gift for the
year in which the contribution was made.
NOTE: The purpose of this bill is to attract substantial
contributions to aid the services provided to the approximately
seventeen communities in the state wherein community foundations
serve.
This section is new; therefore, strike-throughs and
underscoring have been omitted.