Senate Bill No. 628
(By Senators Helmick and Minard)
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[Introduced February 17, 2006; referred to the Committee
on Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-10-11b, relating
to creation of a fund in the State Treasury; designating the
fund as the Special District Excise Tax Administration Fund;
and authorizing expenditure of the fund for designated
purposes.
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 §11-10-11b, to read as
follows:
ARTICLE 10. WEST VIRGINIA TAX PROCEDURE AND ADMINISTRATION ACT.
§11-10-11b. Fund creation; authorization for expenditure
.
Amounts deducted and retained by the Tax Commissioner under
subsection (e), section eleven-a of this article shall be deposited
by the Tax Commissioner in the special revolving fund which is hereby created and established in the State Treasury and designated
as the "special district excise tax administration fund." Amounts
deposited in the special district excise tax administration fund
may be expended by the Tax Commissioner for the general
administration of the taxes administered under the authority of
this article.
NOTE: The purpose of this bill is to create a fund in the
State Treasury into which the Tax Commissioner deposits amounts
retained out of special district excise tax collections pursuant to
the authorization of West Virginia Code §11-10-11a(e), for the
general administration of taxes administered under the Tax
Procedure and Administration Act.
This section is new; therefore, strike-throughs and
underscoring have been omitted.