HB3300 SFAT #2 TARR 4-6

Johnson  7909

Senator Tarr moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. House Bill 3300—A BILL to amend and reenact §7-18-2 of the Code of West Virginia, 1931, as amended; to amend and reenact §11-15-2  and §11-15-3, §11-15-3a; §11-13-3b, §11-15-8, §11-15-9, §11-15-9h of said code; to amend and reenact §11-15A-2 of said code; to amend and reenact §11-17-3 and §11-17-4b of said code; to amend said code by adding thereto a new section, designated §11-21-4g; to amend and reenact §11B-2-20 of said code; to amend said code by adding thereto a new section, designated §11B-2-32, to amend and reenact §12-1-14 of said code, to amend said code by adding thereto a new section, designated §16A-15-11; to amend said code by adding thereto a new section, designated §29-22-9b; all relating to taxation; modernizing the state tax structure; eliminating the personal income tax; providing for revenue replacement measures; creating a hotel occupancy fee; providing for an increase in rate of consumers sales and service tax; placing a tax on food; setting the rate of food tax; providing prepared food shall be taxed at consumer sales tax rate; providing for an excise tax on professional legal, engineering, architectural, and accounting services; providing for an excise tax on legal settlements based on a contingency fee agreement; removing tax exemption on radio and television broadcasting time, preprinted advertising circulars and newspapers, outdoor advertising space to advertise goods and services; to remove tax exemption on sales of lottery tickets and materials by licenses lottery sales agents and retailers; removing exemption on electronic digital services, computer equipment, and related software; removing tax exemption on memberships or services provided by health and fitness organizations related to personalized fitness training; to increase rate of use tax; increasing tax on tobacco and tobacco related products; increasing the tax on e-cigarette liquid; to phase in a reduction in the rate of personal income tax; to provide that further action of the Legislature is necessary to raise the personal income tax following a reduction; to provide for elimination of the personal income tax upon the occurrence of certain events; providing findings; requiring notification to taxpayers of changes to personal income tax; requiring reporting to the legislature; requiring a report to the Legislature; providing for rulemaking; allowing for inoperability of certain statutory provisions upon complete elimination of the personal income tax; to provide for tax liabilities that existed prior to elimination of personal income tax; providing a tax credit for low income households to offset the sales tax increase; providing for early payment of the credit;  to establish Stabilization and Future Economic Reform Fund; to dedicate certain funding sources to fund; allowing fund to be invested; reallocating surplus revenues to fund upon the occurrence of certain events; to allow budget surplus to be deposited into fund upon obtaining a certain balance in the state revenue shortfall funds; to provide for uses of fund following the elimination or the personal income tax; to provide that Secretary of Tax and Revenue has authority over fund; to allow Secretary of Tax and Revenue to deposit additional amounts into fund upon obtaining a specified balance in the fund; to allow for a reduction in personal income tax brackets upon occurrence of unappropriated revenue; providing for dollar for dollar reduction in personal income tax brackets upon increases in general revenue related to specified events; to allow Legislature to transfer from fund to General Revenue Fund upon the fund reaching a certain balance; to allow fund to be invested;  to reallocate budget surplus at the end of a fiscal year; to allow a percentage of budget surplus to be directed to the fund; to require the Lottery Commission develop a new instant lottery scratch-off game; creating a special revenue account at the Lottery Commission; providing from a transfer of funds from the special revenue account to Personal Income Tax Reduction Fund; to allow Lottery Commission to change new instant lottery scratch-off game to allow it to remain competitive.