H. B. 4375
(By Delegates Ashley, Doyle, Amores,
Leach, Perdue and Ross)
[Introduced February 3, 2000; referred to the
Committee on Education then 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
forty-five, relating to creating a tax credit for employers
who hire graduates of West Virginia institutions of higher
learning; providing the credit is available for
three-consecutive years on a graduated basis; providing the
credit does not apply to graduates holding associate's
degrees; providing that the taxpayer may elect to use the
credit against other state tax liabilities other than personal
income tax; and, requiring the tax commissioner to propose
legislative rules to effectuate and clarify eligibility requisites.
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
forty-five, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
ยง11-21-45. Credit for hiring graduates from state institutions of
higher learning.
The tax imposed by this article shall be subject to a credit
for any employer who hires on a full-time basis a college graduate
from any four-year undergraduate degree program, master's degree
program, graduate degree program, medical degree program, or law
degree program from an accredited institution of higher learning in
this state. The credit provided for in this section does not
include the hiring of any holder of an associate's degree. The
credit shall exist for three consecutive tax years and shall apply
as follows: In the first year of hire of the college graduate the
employer is entitled to a credit of one thousand five hundred
dollars; in the second year of hire, one thousand dollars; and, in
the third year of hire, five hundred dollars. At the election of the taxpayer, the credit provided for hereunder may be applied
against any other state tax liability rather than that provided in
this article in any one or all three years in which the taxpayer is
eligible for the credit. The tax commissioner is hereby directed
to propose rules for legislative approval in accordance with the
provisions of article three, chapter twenty-nine-a of this code
designed to effectuate and clarify eligibility requisites under the
provisions of this section.
NOTE: The purpose of this bill is to provide a tax credit for
employers who hire graduates from West Virginia state institutions
of higher learning.
This section is new; therefore, strike-throughs and
underscoring have been omitted.