HB 5382
Relating to the Neighborhood Investment Program.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill seeks to extend the Neighborhood Investment Program in West Virginia. Currently, the program is set to expire on July 1, 2031. The bill mandates an independent review of the program every three years and clarifies that no new tax credits will be available after that date. Existing taxpayers with credits earned before the expiration date will be able to utilize those credits.
Key provisions
- Requires an independent review of the Neighborhood Investment Program every three years.
- Extends the expiration date of the Neighborhood Investment Program to July 1, 2031.
- Prohibits new tax credits from being offered after July 1, 2031.
- Retains existing tax credits earned before the expiration date.
- References §11-13J-12 of the West Virginia Code.
Who is affected
- Taxpayers
- Certified Projects
- West Virginia Residents
- Joint Committee on Government and Finance
- Neighborhood Investment Program Participants
Notable changes
- Eliminates the possibility of new tax credits under the program after July 1, 2031.
- Preserves existing tax credits for contributions made before the program’s expiration.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Flanigan
Cosponsors
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