This bill proposes a constitutional amendment to increase the homestead property tax exemption in West Virginia from $20,000 to $50,000. It directly affects homeowners and mobile home owners who are at least 65 years old or permanently disabled, as well as younger homeowners who would receive a phased-in exemption starting at a lower value. The amendment would allow the state legislature to set specific rules for how the exemption applies, including a five-year phase-in period for properties appraised before the law takes effect. Additionally, the bill grants the legislature authority to provide property tax relief to tenants of residential or farm property. The measure requires approval by voters at the 2026 general election to become part of the state constitution.
HB 5402 creates a refundable tax credit for West Virginia businesses operating qualified distribution centers. It allows these businesses to claim a dollar-for-dollar credit against state taxes for toll payments exceeding $150,000 made via the West Virginia EZ Pass system on ground transportation of finished, packaged retail goods. The credit requires using RFID Tag Readers or comparable systems approved by the West Virginia Parkways Authority to track eligible tolls. The credit applies to toll payments made in 2026 and future tax years, with the program effective July 1, 2026.
HB 5560 would exempt the first $2,000 of retirement benefits received by retired law enforcement officers under West Virginia's Public Employees Retirement System (PERS) from state income tax. This bill modifies existing tax law to specifically include former law enforcement officers in the current exemption for PERS retirement benefits, which previously applied to teachers and other public employees. The policy change directly affects retired police and firefighters who receive PERS pensions, ensuring their initial $2,000 in annual retirement income is not subject to state taxation. This amendment expands an existing tax exemption to explicitly cover law enforcement retirees, aligning with the bill's stated purpose of providing tax relief for this group.
HB 5399 creates a 10% state tax credit against West Virginia's corporate net income tax for businesses that earn federal carbon sequestration credits (under IRS §45Q) for biochar manufacturing. The credit applies only to new biochar facilities operating in West Virginia after July 1, 2025, and matches the amount of the federal credit earned. It limits the credit to 50% of a business's annual tax liability and allows unused credits to carry forward (but not back before 2026). This directly affects businesses establishing qualifying biochar facilities, aligning state incentives with federal climate-focused manufacturing credits.
SB 1063 creates a new Economic Development Investment Fund in West Virginia's State Treasury to finance job-creating projects, support industry recruitment, fund infrastructure for large industrial users, and leverage private investment. The fund, administered by the Division of Economic Development, can provide loans, grants, or equity but cannot cover government operating costs or salary increases, with no single project receiving more than 25% of the fund balance. Entities receiving funds must sign performance agreements requiring job creation, private investment thresholds, and tax base expansion. The fund must maintain a minimum balance equal to one year of projected commitments and report annually to the Joint Committee on Government and Finance.
HB 5635 creates a 50% state tax credit for property owners who rehabilitate vacant or dilapidated residential properties in designated "coalfield" counties. The credit applies to eligible rehabilitation costs and requires properties to be used as workforce housing for educators, healthcare workers, first responders, and public employees. Projects supported by county commissions, housing authorities, or municipal redevelopment agencies receive priority. "Coalfield" counties are defined as those with historical or current economic ties to coal mining, including past or present coal-related industry activity. The bill is currently under review by the House Finance Committee.
HB 5262 provides a tax credit for commercial building owners in West Virginia who pay for renovations to achieve certification under the U.S. Green Building Council's LEED system or the Green Globes Building Initiative. The credit equals the actual cost of renovations and improvements needed for certification, minus any reimbursements received. Eligible taxpayers (commercial building owners) can apply this credit against corporation net income tax, business franchise tax, or personal income tax, with unused portions carryable for up to three years. This policy directly supports commercial property owners seeking to adopt sustainable building practices through financial incentives.
This bill creates tax credits for West Virginia manufacturers that transform locally harvested wood into finished "value-added" products like plywood, wood pellets, or engineered lumber. It provides tiered credits ($1.25-$3 per ton) based on the volume of West Virginia-sourced wood processed, with higher rates for new facilities or expansions ($2.50-$6 per ton) for five years. To qualify, manufacturers must meet a "minimum transformation standard" (e.g., altering wood’s structure), avoid basic handling like debarking, and self-report production data. Credits are capped at $1.25 million annually per facility and apply to corporate or personal income tax. The law aims to incentivize local processing of forest resources while preventing credits for raw log handling.
HB 5474 creates a tax credit for businesses in West Virginia's outdoor recreation industry located between Charleston and the New River Gorge. The bill directly affects qualifying outdoor recreation businesses operating in this specific corridor, including those offering activities like hiking, biking, and fishing. It establishes a tax credit to reduce business taxes for eligible operations, aiming to encourage economic growth and job creation in the region. The legislation cites the area's natural resources, transportation access, and appeal to remote workers as key reasons for this incentive.
HB 5668 establishes the Central West Virginia Economic Development and Rural Revitalization Program to address economic challenges in eight specific counties: Webster, Clay, Braxton, Roane, Calhoun, Wirt, Lewis, and Gilmer. The bill creates a state program within the Department of Commerce that provides grants, loans, and technical assistance for projects like business development, infrastructure improvements, broadband expansion, and tourism initiatives. It also introduces a 25% tax credit for businesses making qualified investments in the region that create or retain full-time jobs. Projects must be located in the designated counties and prioritize job creation, private funding leverage, and support for economically distressed communities.
