HB 4255
Relating to authorizing the Tax Department to promulgate a legislative rule relating to Downstream Natural Gas Manufacturing Investment Tax Credit.
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill authorizes the West Virginia Tax Department to create a detailed rule explaining the Downstream Natural Gas Manufacturing Investment Tax Credit. The rule will clarify the requirements and procedures for businesses to qualify for this tax credit. Specifically, it builds upon existing authority granted to the Tax Department to develop regulations for various tax incentives. This legislation ensures a clear framework for the implementation of the Downstream Natural Gas Manufacturing Investment Tax Credit.
Key provisions
- Authorizes the Tax Department to create a legislative rule.
- The rule will pertain to the Downstream Natural Gas Manufacturing Investment Tax Credit.
- The rule is based on existing authority under §11-13GG-16 of the Code of West Virginia.
- It clarifies the requirements for businesses seeking the tax credit.
Who is affected
- Businesses involved in Downstream Natural Gas Manufacturing
- The West Virginia Tax Department
- Taxpayers seeking the investment tax credit
Sponsors
Official sponsors from legislative records.
Primary sponsor
D. Smith
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