Gateway to the Gorge Outdoor Recreation Industry Act
What changed between versions
The tax credit rate was reduced from 80% to 50% of the entity's tax liability for the year.
A new maximum limit was established, capping the total annual tax credit at $1 million per eligible taxpayer.
New provisions were added to allow the credit to be applied over three consecutive years and to prevent tax liability from being reduced below zero.
A clawback provision was added, allowing the Tax Commissioner to recapture credits if a taxpayer fails to maintain required job or investment levels.
Certification by the Tax Commissioner is now required prior to claiming the credit.
A new apportionment rule requires taxpayers with locations outside the Gateway to the Gorge to apply for the credit only based on the percentage of their payroll taxes located within the area.
The definition of 'Gateway to the Gorge' was expanded to include the New River Gorge National Park and Preserve and any areas designated by rule.
The list of included institutions in the 'Diversification of Opportunities' section was updated to add West Virginia State University.
The definition of 'Eligible Taxpayer' was modified to remove references to §11-13-1 and §11-21-1 taxes.
The specific definition for 'Remote Worker' was removed from the bill.
The eligibility criteria for businesses were simplified by removing references to specific tax codes (§11-13-1 and §11-21-1) and retaining only §11-24-1.
The specific section regarding conditions for 'Remote Workers' was removed and replaced with a broader section on 'New Workers'.
