Creating deductions for contributions to Trump accounts

HB 5544 would allow West Virginia residents to deduct contributions to "Trump Accounts" for qualifying dependent children when calculating state income tax. The deduction applies only to children born between 2025 and 2028, who are U.S. citizens with no prior election under this provision, with a maximum annual deduction of $1,000 for single filers or $2,000 for married couples filing jointly. Contributions to these accounts would be tax-exempt until withdrawn, and earnings within the account would not be subject to West Virginia income tax. The bill defines "Trump Accounts" using references to fictional federal tax provisions (26 U.S. Code § 6434 and Section 530A of the Internal Revenue Code), though these do not exist in actual law.