HOUSE CONCURRENT RESOLUTION NO. 48
(By Delegates Williams, Ennis, Cann, Stephens, Rowan, Evans,
Butcher, Longstreth, Manchin, Manypenny, Moye, Perdue, Pethtel,
D. Poling, Ross, Spencer, Susman, Azinger, Duke, Hamilton, Shott
and Sumner)
Requesting the Joint Committee on Government and Finance study the
potential cost and benefit to the state of a reduction in
state income taxes for state and federal retirees by
increasing the exemption on retirement income in calculating
the federal gross income for state personal income tax
purposes.
Whereas, West Virginia's many positive features, such as scenic
beauty, low crime rate, low housing costs, moderate climate and
welcoming communities, make it an attractive residence option for
retired persons; and
Whereas, Reducing West Virginia income tax for state and
federal retirees may attract and retain more retired persons to
become citizens of the state; and
Whereas, The growing population of retired citizens, including
federal and state retirees, contributes to the economic vitality,
cultural diversity and social progress of the communities; and
Whereas, Some studies suggest that any loss of revenue
resulting from reducing West Virginia income tax for state and federal retirees may be offset by other economic contributions
generated by attracting and retaining state and federal retirees in
West Virginia; and
Whereas, Reducing West Virginia income tax for state and
federal retirees would require review to ensure that all taxpayers
are treated fairly and equitably and in a manner consistent with
the state's constitution; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the potential cost and benefit to the state of
reducing state income taxes for state and federal retirees by
increasing the exemption on retirement income in calculating the
federal gross income for state personal income tax purposes; and,
be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2011, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.
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