HB 3040
Relating to providing a credit against the business and occupation tax imposed on coal-fired electric generating units to help off-set environmental compliance costs
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes a tax credit for coal-fired electric generating units in West Virginia to help offset the costs of complying with environmental regulations. It allows these facilities to claim a 35% credit against their business and occupation tax for expenses related to installing, repairing, and maintaining equipment designed to control pollution. The credit is capped at 50% of the tax liability and can be carried forward for up to five years. The bill aims to incentivize investment in environmental controls while supporting the continued operation of coal-fired power plants.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours