HB 3492
Relating to municipal economic opportunity development districts.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill authorizes the City of Huntington to levy a special district excise tax on sales of tangible personal property and services within the City of Huntington Economic Opportunity Development District. The Legislature requires explicit authorization for each economic development district before a municipality can levy such a tax, ensuring it doesn't negatively impact the state’s General Revenue Fund. This authorization specifically applies to the City of Huntington and its designated 146-acre district.
Key provisions
- Authorizes the City of Huntington to levy a special district excise tax.
- Requires explicit legislative authorization for each economic opportunity development district.
- Specifies that the tax applies to sales of tangible personal property and services.
- Designates the City of Huntington Economic Opportunity Development District as the area subject to the tax.
- The district encompasses 146 acres of land.
- The South Charleston Park Place Economic Opportunity Development District is also authorized to levy a special district excise tax.
- The tax is intended to benefit the designated economic opportunity development districts.
- The Legislature will consider the unique characteristics of each district before authorizing a tax.
Who is affected
- City of Huntington
- Residents and businesses within the City of Huntington Economic Opportunity Development District
- The State of West Virginia (through its General Revenue Fund)
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