Relating to authorizing application of the manufacturing investment tax credit and the manufacturing property tax adjustment credit against personal income tax

This bill allows West Virginia manufacturing businesses to apply tax credits from equipment investments against personal income tax. Eligible manufacturers (including those with specific industry codes 211112, 332992, or 332994) receive a 5% credit on qualifying costs, or 50% for codes 332992/332994. The credit applies over 10 years, starting when equipment is first used, and must first reduce other taxes like mining or corporate taxes before affecting personal income tax. It directly affects manufacturers operating in West Virginia who meet the defined industry code requirements.