H. B. 4192

         (By Delegate Lane)

         [Introduced January 15, 2014; referred to the

         Committee on Finance.]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-25, relating to creating a refundable tax credit for persons residing in the counties affected by the recent water emergency.

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 §11-21-25, to read as follows:

ARTICLE 21. PERSONAL INCOME TAX.

§11-21-25. Refundable water emergency credit.

    Subject to the requirements and limitations of this section, for the tax year beginning on or after January 1, 2013, and ending on December 31, 2013, any person residing in Boone, Cabell, Clay, Jackson, Kanawha, Lincoln, Logan, Putnam and Roane, shall be allowed a refundable credit against the taxes imposed by this article equal to $1,000 due to the effects of the 2014 chemical spill in the Elk River. The credit shall be applied against the personal income tax in the personal income tax year of the taxpayer.

    NOTE: The purpose of this bill is to provide a tax credit for persons in counties affected by the chemical spill in the Elk River.

    This section is new; therefore, it has been completely underscored.