Budget & Taxes

SB 841 adds $30,498 to the State Board of Education's fund 3951 for the Hope Scholarship Program, using an unappropriated surplus from lottery net profits. This supplemental appropriation allocates existing lottery revenue - specifically from the surplus balance not included in the initial budget - to fund the Hope Scholarship Program during fiscal year 2026. The bill does not change the program's eligibility or structure but provides additional funding for student scholarships. The funds are designated for expenditure before June 30, 2026, as part of the state's budget process.

SB 871 allocates $12.66 million from West Virginia's Excess Lottery Fund to the Hope Scholarship Program for fiscal year 2026. This supplemental appropriation adds a new funding line (Fund 3517) to the State Board of Education's budget, directing unappropriated lottery surplus funds toward scholarship payments. The bill does not change program eligibility, rules, or structure - it only provides additional funding for existing scholarship disbursements. It is a procedural budget adjustment, not a new policy.

SB 392 reduces West Virginia's personal income tax rates for taxpayers starting January 1, 2026, with automatic future reductions tied to state revenue growth. The bill requires the Secretary of Revenue to calculate annual tax rate cuts when state revenue exceeds inflation-adjusted 2019 levels (base year: $4.29 billion), applying the reduction equally across all tax brackets. These reductions cannot exceed a 10% cut in existing rates and will be certified annually after August 15 each year. The bill also lowers withholding rates on nonresident real estate sales, lottery winnings, and certain composite returns. This legislation directly affects all West Virginia income tax filers and nonresidents earning income within the state.

SB 592 creates a tax credit program for West Virginia short line railroads and related infrastructure. It provides a 50% tax credit on qualified maintenance costs (capped at $5,000 per mile of track) and new infrastructure investments (capped at $2 million per project, with a $5 million annual limit). Eligible taxpayers include Class II/III railroads operating in West Virginia and owners/lessees of rail sidings or industrial spurs. Credits can be carried forward for up to five years or transferred to other taxpayers via written agreement. The bill directly supports rail infrastructure modernization by reducing costs for qualifying rail operators.

This bill (SB 814) allocates $70,357,538 in unappropriated surplus funds from the State General Revenue Fund to the Hope Scholarship Program under the State Board of Education. It directly affects the Hope Scholarship Program by providing supplemental funding for fiscal year 2026. The bill does not change program rules or eligibility - it simply reallocates existing surplus funds to cover program costs. This is a routine budget adjustment, not a new policy.