HB 4013
Relating to the Mountaineer Flexible Tax Credit Act of 2026
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
House Bill 4013 establishes the Mountaineer Flexible Tax Credit Act of 2026, aiming to encourage business investment and economic development in West Virginia. The act creates a process for businesses to apply for tax credits based on meeting specific criteria, such as job creation and investment levels. It outlines definitions, application procedures, and reporting requirements, and establishes the authority to award and adjust tax incentives. The bill also incorporates provisions related to audits, interagency cooperation, and the West Virginia Tax Crimes and Penalties Act.
Key provisions
- Establishes the Mountaineer Flexible Tax Credit Act of 2026.
- Defines key terms, including ‘qualified business or industry,’ ‘qualified economic development project,’ and ‘average employer wage.’
- Outlines the application process for tax credits, requiring specific information about investment, job creation, and employee benefits.
- Specifies how tax credits will be calculated, considering factors like investment amount, job creation, and average employer wage.
- Requires annual reporting by businesses receiving tax credits to demonstrate project performance.
- Authorizes the authority to adjust tax incentive awards based on project performance and compliance.
- Incorporates provisions related to audits and interagency cooperation.
- Applies this article to the West Virginia Tax Crimes and Penalties Act.
Who is affected
- Businesses
- Corporations
- Limited Liability Companies
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