Relating to credit for qualified rehabilitated buildings investment

HB 4802 provides a state tax credit for businesses rehabilitating certified historic buildings in West Virginia. It offers a 10% credit on rehabilitation costs for certified historic structures, increasing to 25% for projects completed after December 2017 with specific certification. The bill allows phased rehabilitation projects (e.g., multi-stage renovations) where credits can be claimed for each completed phase, subject to final project certification. To qualify, property owners must be current on all taxes (state, local, and property taxes) and meet federal historic preservation standards. This credit directly affects property owners and developers of certified historic buildings seeking to offset state business tax liability.