H. B. 4357
(By Delegates White, DeLong, Shook, Webster, Boggs, Kominar and
[Passed March 8, 2008; in effect ninety days from passage.]
AN ACT to amend and reenact §11-13J-8 and §11-13J-12 of the Code of
West Virginia, 1931, as amended, relating to the Neighborhood
Investment Program Act; increasing the total maximum aggregate
tax credit amount and extending the termination date of the
Be it enacted by the Legislature of West Virginia:
That §11-13J-8 and §11-13J-12 of the Code of West Virginia,
one thousand nine hundred thirty-one, as amended, be amended and
reenacted to read as follows:
ARTICLE 13J. NEIGHBORHOOD INVESTMENT PROGRAM.
§11-13J-8. Total maximum aggregate tax credit amount.
(a) The amount of tax credits allowed under this article may
not exceed two million five hundred thousand dollars in any state
(b) Applications for project certification shall be filed with the West Virginia development office. The West Virginia
development office shall record the date each application is filed.
All complete and valid applications shall be considered for
approval or disapproval in a timely manner by the neighborhood
assistance advisory board. The board may, in its discretion,
consider applications for approval or disapproval at special or
interim meetings for expedited processing.
(c) When the total amount of tax credits certified under this
article equals the maximum amount of tax credits allowed, as
specified in subsection (a) of this section, in any state fiscal
year, no further certifications shall be issued in that same fiscal
year. Upon approval of a project by the board, the director of the
West Virginia development office shall certify the approved project
unless certification is prohibited by the limitations and
requirements set forth in this article.
(d) All applications filed in any state fiscal year and not
certified during the state fiscal year in which they are filed
shall be null and void by operation of law on the last day of the
state fiscal year in which they are filed, and all applicants which
elect to seek certification of a project plan shall file anew on
and after the first day of the succeeding state fiscal year.
§11-13J-12. Program evaluation; expiration of credit;
preservation of entitlement.
Beginning on the fifteenth day of December, two thousand five, and every second year thereafter. the Director shall secure an
independent review of the neighborhood investment program created
by this article and present the findings to the Joint Committee on
Government and Finance. Unless sooner terminated by law, the
Neighborhood Investment Program Act terminates on the first day of
July, two thousand eleven. There is no entitlement to the tax
credit under this article for a contribution made to a certified
project after the first day of July, two thousand eleven, and no
credit is available to any taxpayer for any contribution made after
that date. Taxpayers which have gained entitlement to the credit
pursuant to eligible contributions made to certified projects prior
to the first day of July, two thousand eleven, shall retain that
entitlement and apply the credit in due course pursuant to the
requirements and limitations of this article.