Senate Bill No. 528
(By Senators Sprouse and Guills)
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[Introduced February 8, 2006; referred to the Committee
on Finance.]
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A BILL to amend the C
ode of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-21-15a, relating
to personal income tax credits; and allowing a credit against
a taxpayer's tax liability for performing volunteer work for
nonprofit organizations.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §11-21-15a, to read as
follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-15a. Credit for volunteer work for 501(c)(3) entities.
A taxpayer is allowed a credit, not to exceed two thousand
dollars in a taxable year, against the tax imposed by the
provisions of this article for volunteer work performed for an
entity which qualifies for exemption from federal income taxation under section 501(c)(3) of the Internal Revenue Code. For each
hour of volunteer work performed, a taxpayer is allowed a credit in
an amount equal to the state average hourly wage for that taxable
year, as determined by the State Division of Labor.
NOTE: The purpose of this bill is to allow a credit against
the West Virginia personal income tax for volunteer work for
nonprofit organizations.
This section is new; therefore strike-throughs and
underscoring have been omitted.