HB2375 H SB AMT#1

Rose 3348

The Committee on Small Business moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. House Bill No. 2375 -- H. B. 2375 -- “A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article, designated §11-28-1, §11-28-2, §11-28-3, §11-28-4, §11-28-5 and §11-28-6, all relating to establishing a Small Business Empowerment and Economic Expansion Program providing tax relief to newly-established small businesses; defining terms; reducing the effective personal and corporate income tax rates for income derived from certain, eligible small businesses for a certain period of time; requiring reports to the Legislature; and providing for the termination of the program as to taxable years beginning after a certain date; and requiring the West Virginia Tax Commissioner to promulgate legislative rules for the implementation of this new article.”

Adopted

Rejected