HB110 HFIN AMT 6-1JHJ
H. B. 110 -- "
A BILL to amend the Code of West Virginia, 1931,
as amended, by adding thereto a new section, designated §11-21-12i;
and to amend said code by adding thereto a new article, designated
§44-16-1, §44-16-2, §44-16-3, §44-16-4, §44-16-5 and §44-16-6, all
relating to the future support of children with autism; creating a
personal income tax modification to adjusted gross income for
parents and guardians contributing to a qualified trust fund;
providing for limitations on amount of modification earned and
taken; specifying modification carryforward and treatment of
modification carryforward; specifying personal income tax treatment
of deposits, earnings and withdrawals of trust funds; specifying
effective date for tax modification; providing rulemaking
authority for use and administration of qualified trust funds and
requirements for claiming the tax modification; specifying tax
assessment for modification improperly taken; addressing statute of
limitations; defining terms; specifying criteria for creating a
qualified trust for a child with autism; establishing eligibility
criteria; providing for creation of trust accounts for a child with
autism; providing guidelines for expenses the trust accounts may be
used for; creating the West Virginia Children With Autism Trust
Board; requiring board certification of certain information;
setting forth membership of the board; setting forth duties and
responsibilities of the board; granting rule making authority to the board; providing for reimbursement of board members' expenses;
exempting identities of trust fund beneficiaries, account owners or
donors from chapter twenty-nine-b of the code; and providing an
effective date.
"