H. B. 2781
(By Delegate Guthrie)
[Introduced February 24, 2009; referred to the
Committee on Energy, Industry and Labor, Economic Development and
Small Business then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-24-11c, relating
to providing a tax credit to sawmills that become certified by
the Leadership in Energy and Environmental Design (LEED) Green
Building Rating System.
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 §11-24-11c, to read as
follows:
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-11c. Credit for sawmills becoming certified by
the
Leadership in Energy and Environmental Design
(LEED) Green Building Rating System
.
(a) General. -- A credit shall be allowed against the primary tax liability of an eligible taxpayer under this article for the
cost of
a sawmill to become certified by the Leadership in Energy
and Environmental Design (LEED) Green Building Rating System
.
(b) Definitions. -- For purposes of this section, the term:
(1) "Eligible taxpayer" means a business whose primary purpose
is being a sawmill.
(2) "Cost of
a sawmill to become certified by the Leadership
in Energy and Environmental Design (LEED) Green Building Rating
System
" means the reasonable and necessary sums of money spent by
the taxpayer in receiving that certification.
(c) Amount of credit. -- The amount of the credit available to
any eligible taxpayer shall be equal to its cost of
becoming
certified by the Leadership in Energy and Environmental Design
(LEED) Green Building Rating System
, less any reimbursement of said
cost which the taxpayer has received through any other means.
(d) When credit may be taken. -- An eligible taxpayer may
claim a credit allowed under this section on its annual return for
the taxable year in which it receives certification.
(e) Application of credit. -- The credit allowable by this
section for a taxable year is not subject to the fifty percent
limitation specified in section nine of this article, and any
unused credit may be carried over to each of the next three taxable
years following the unused credit year until used or forfeited due
to lapse of time.
(f) Copy of certification order. -- A copy of the
certification
by the Leadership in Energy and Environmental Design
(LEED) Green Building Rating System must be attached to any annual
return under this article on which a credit allowed by this section
is taken.
NOTE: The purpose of this bill is to
provide a tax credit to
sawmills that become certified by the Leadership in Energy and
Environmental Design (LEED) Green Building Rating System.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.