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Engrossed Version Senate Bill 499 History

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sb499 eng
ENGROSSED

Senate Bill No. 499

(By Senators Jenkins, White, Guills, Barnes and Plymale)

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[Introduced January 30, 2008; referred to the Committee on Finance.]

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A BILL to amend and reenact §11-13A-3b of the Code of West Virginia, 1931, as amended, relating to eliminating the severance tax on timber for three years.

Be it enacted by the Legislature of West Virginia:
That §11-13A-3b of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:
ARTICLE 13A. SEVERANCE TAXES.

§11-13A-3b. Imposition of tax on privilege of severing timber; elimination of tax in two thousand nine.

(a) Imposition of tax. -- For the privilege of engaging or continuing within this state in the business of severing timber for sale, profit or commercial use, there is hereby levied and shall be collected from every person exercising such privilege an annual privilege tax.
(b) Rate and measure of tax. -- The tax imposed in subsection (a) of this section shall be three and twenty-two hundredths percent of the gross value of the timber produced, as shown by the gross proceeds derived from the sale thereof by the producer, except as otherwise provided in this article: Provided, That as to timber produced after the thirty-first day of December, two thousand six, the rate of the tax imposed in subsection (a) of this section shall be one and twenty-two hundredths percent of the gross value of the timber produced, as shown by the gross proceeds derived from the sale thereof by the producer, except as otherwise provided in this article.
(c) Tax in addition to other taxes. -- The tax imposed by this section shall apply to all persons severing timber in this state and shall be in addition to all other taxes imposed by law.
(d) Elimination of tax. -- Beginning in the tax year two thousand nine and continuing for three consecutive tax years thereafter, the tax imposed by this section is discontinued.

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