HB 5595
Eliminating property tax payments for fully disabled veterans.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill eliminates property tax payments for West Virginia veterans who have a 100% disability rating from the Armed Forces. It specifically applies to personal property belonging to these veterans. The bill also establishes a fee for certain nonprofit organizations that utilize property exempt from taxation under other provisions of law, with the revenue generated being distributed to the Tourism Promotion Fund and county sheriffs for STEAM programs and other community benefits. It includes provisions to ensure fair competition and ongoing evaluation of the exemption’s impact.
Key provisions
- Provides personal property tax exemptions for fully disabled veterans with a 100% disability rating.
- Establishes a one-quarter percent fee on gross revenues for certain nonprofit organizations with property exempt from taxation.
- Directs revenue from the fee to the Tourism Promotion Fund, county sheriffs, and STEAM programs.
- Requires county commissions to report on the economic impact of the exemption and fee.
- West Virginia University will conduct a study on the economic impact of the exemption and fee.
- Specifies conditions for the exemption of property used for youth development activities.
- Addresses potential unfair competition with local businesses.
- Includes provisions for the administration and collection of fees.
Who is affected
- Fully disabled veterans
- Nonprofit organizations
- County sheriffs
- West Virginia residents
- Taxpayers
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