H. B. 2881
(By Delegates Kelley, Perdue, Ennis, Ashley,
Stemple, Givens and Hatfield)
(Originating in the House Committee on Finance)
[February 22, 2000]
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 reduction in federal 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.
For taxable years beginning on and after the first day of
January, two thousand, in addition to amounts authorized to be
subtracted from federal adjusted gross income pursuant to subsection (c), section twelve of this article, ten percent of
any amount contributed as a gift to a community foundation or
community trust, as defined in article six-a, chapter forty-four
of this code, is an authorized modification reducing the federal
adjusted gross income, but only to the extent the amount is not
allowable as a deduction when arriving at the taxpayer's federal
adjusted gross income for the taxable year in which the
contribution was made.