House Bill 2129 History
H. B. 2129
(By Delegates Skaff, Reynolds, Pasdon, Guthrie, L.
Phillips, Ferns, Barill and Marshall)
[Introduced February 13, 2013; 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 §11-6D-10, relating
to permitting the transfer of tax credits for the purchase of
alternative-fuel vehicles, the conversion to an
alternative-fuel vehicle or the construction of
alternative-fuel vehicle infrastructure.
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 §11-6D-10, to read as
ARTICLE 6D. ALTERNATIVE-FUEL MOTOR VEHICLES TAX CREDIT.
§11-6D-10. Transfer or sale of credit.
_____(a) Any entity, including a governmental entity, that would be
eligible for a tax credit issued in accordance with this article if
that entity fits within the definition of "taxpayer" as that term
is defined in section two of this article, may transfer the right to that tax credit to any taxpayer, subject to the following
_____(1) A single transfer or sale may involve one or more
transferees, assignees or purchasers. A transfer or sale of the
credits may involve multiple transfers to one or more transferees,
assignees or purchasers.
_____(2) Transferors and sellers shall apply to the Tax Department
for approval of any transfer, sale or assignment of the tax credit.
Any amount of the tax credit that has been transferred or assigned
is subject to the same limitations and conditions that apply to
transferor's or seller's entitlement, use and application of the
credit. The application for sale, transfer or assignment of the
credit shall include the transferor's tax credit balance prior to
transfer, if any, the name of the seller, the transferor's
remaining tax credit balance after transfer, if any, all tax
identification numbers for both transferor, if any, and transferee,
the date of transfer, the amount transferred and any other
information required by the Tax Commissioner.
_____(3) The Tax Commissioner may not approve the transfer or
assignment of a tax credit to a taxpayer if the seller or
transferor has an outstanding tax obligation with the State of West
_____(b) The transferee, assignee or purchaser shall apply the tax
credits as required by this article and is subject to all conditions and limitations of this article.
_____(c) For purposes of this section, any proceeds received by the
transferor for its assignment or sale of the tax credits allowed
pursuant to this section are exempt from the West Virginia
consumers sales and service tax and use tax and from the corporate
net income tax and personal income tax.
NOTE: The purpose of this bill is to permit tax credits taken
for the purchase of alternative fuel vehicles or conversion to
alternative fuel vehicles or the construction of alternative fuel
vehicle infrastructure to be transferred.
This section is new; therefore, it has been completely