HOUSE CONCURRENT RESOLUTION NO. 45
(By Delegates Canterbury, Carmichael, Evans, Hamilton,
Armstead, Leggett, Webb, Walters, Blair, Duke, Hall,
Wakim, Calvert, Caruth, Sobonya, Schoen and Schadler)
[Introduced February 19, 2003; referred to the
Committee on Rules.]
Requesting the State Tax Commissioner to study alternative economic
development strategies that attract wealthier consumer bases,
such as senior citizens by directly providing these consumers
with incentives and quality of life improvements.
Whereas, Conventional economic strategies for stimulating the
economy are directed towards providing businesses with incentives
to transact business in West Virginia, alternative strategies exist
that stimulate economies by providing income incentives for
attracting wealthier consumer bases which increase state revenue
through consumer spending; and
Whereas, There exists a growing population of senior citizens
in West Virginia, as well as in the United States, that provides
one possible alternative economic strategy for expanding wealthier
consumer bases; and
Whereas, Senior citizens are generally more economically stable
than other demographic groups, the State should study whether
providing senior citizens with income incentives and quality of
life improvements would retain senior citizens that currently live
in West Virginia, as well as attract new senior citizens to relocate to West Virginia; and
Whereas, New businesses may be disinclined to transact business
in West Virginia because of higher taxes, workers' compensation
rates and the regulatory climate, which senior citizens are
generally not affected by; and
Whereas, An economically stable consumer base, such as senior
citizens, provides increased revenue to businesses which naturally
attract businesses and outweigh any concerns businesses may have
with transacting business in West Virginia; and
Whereas, Specific areas to study include, but are not limited
to: (1) Eliminating personal income taxes for senior citizens; (2)
eliminating taxes that may discourage senior citizens from
relocating to West Virginia, such as the automobile transfer taxes;
(3) estimating how much revenue would be lost by eliminating these
taxes; (4) projecting the potential increase in revenue to the
state by retaining and attracting senior citizens; and (5)
projecting the economic growth impact from implementation of this
strategy; therefore, be it
Resolved by the Legislature of West Virginia:
That the Tax Commissioner of the State of West Virginia be
requested to study alternative economic development strategies for
stimulating West Virginia's economy, such as providing senior
citizens with incentives and quality of life improvements; and, be
it
Further Resolved, That the State Tax Commissioner report to
the regular session of the Legislature, 2004, as to the
commissioner's findings and any recommendations the commissioner
may have; and, be it
Further Resolved, That the Clerk of the House is directed to
send a copy of this resolution to the State Tax Commissioner.