Establishing road or highway infrastructure improvement projects or coal production and processing facilities tax credit

SB 79 creates a tax credit for West Virginia businesses that invest in road or highway infrastructure projects or coal production and processing facilities. Eligible taxpayers - such as corporations and consolidated groups subject to the state's severance tax - can claim the credit based on qualified expenditures like labor, materials, equipment, and real property costs for these projects. Businesses must apply for certification before claiming the credit for road projects, and unused credits can be carried forward to future tax years. The credit is transferable to business successors, and failure to maintain required records may trigger penalties.