JOINT RESOLUTION NO. 2010-13 Industrial & Commercial Tangible Personal Property (1-25-2010)

(By xxx By Request of the Executive)

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Proposing an amendment to the Constitution of the State of West Virginia, amending article X thereof, by adding thereto a new section, designated section one-d, relating to allowing the Legislature to authorize counties to exempt from ad valorem taxation certain tangible personal property directly used in commercial and industrial businesses; numbering and designating such proposed amendment; and providing a summarized statement of the purpose of such proposed amendment.

Resolved by the Legislature of West Virginia, two thirds of the members elected to each house agreeing thereto:
That the question of ratification or rejection of an amendment to the Constitution of the State of West Virginia be submitted to the voters of the state at the next general election to be held in the year two thousand ten, which proposed amendment is that article X thereof be amended by adding a new section thereto, designated section one-d, to read as follows:
ARTICLE X. TAXATION AND FINANCE.
§1d. Discretionary exemption from ad valorem taxation of tangible personal property directly used in commercial and industrial businesses.


Notwithstanding any other provision of th
is constitution, the Legislature may by law authorize counties to exempt, by ordinance, tangible personal property directly used in commercial and industrial businesses , but not in public utility businesses, from ad valorem property tax . The Legislature may prescribe and limit by law the tangible personal property qualified for such exemption, and counties may exempt all property so designated by the Legislature, or such components thereof as the county commission may designate. Any exemption established pursuant to this section is limited to qualified tangible personal property newly entered on the property tax rolls as of a prospective date certain and thereafter. Notwithstanding section one, article ten of this c onstitution, taxation shall be equal and uniform throughout the county for any county adopting any exemption pursuant to this section.
Resolved further, That in accordance with the provisions of article eleven, chapter three of the Code of West Virginia, 1931, as amended, such proposed amendment is hereby numbered "
Amendment No. 1" and designated as the "Commercial and Industrial Tangible Personal Property Tax Exemption Amendment" and the purpose of the proposed amendment is summarized as follows: " The purpose of this amendment is to allow counties to exempt from ad valorem taxation tangible personal property newly entered on the property tax rolls as of a prospective date certain and thereafter and directly used in commercial and industrial businesses, but not in public utility businesses, or such components thereof as the county commission may designate, pursuant to legislative authorization."


NOTE: The purpose of this resolution is to allow counties to exempt from ad valorem taxation, tangible personal property directly used in commercial and industrial businesses, but not utility businesses, or such components thereof as the county may designate, pursuant to legislative authorization.