HB 5635
To create the Coalfield Housing Revitalization Tax Credit Act.
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
House Bill 5635 creates a tax credit to encourage the rehabilitation of vacant or dilapidated residential properties in West Virginia’s coalfield counties. This credit would provide a 50% refund on eligible contributions made to these property renovations. The bill prioritizes projects supported by local government agencies and specifically allows for the use of renovated properties as workforce housing for essential employees. The definition of ‘coalfield’ is included to clearly identify the counties covered by the program.
Key provisions
- Establishes a state tax credit for rehabilitating vacant or dilapidated residential properties.
- The credit is 50% of the taxpayer’s eligible contribution.
- Properties can be used for workforce housing for specific professions.
- Projects receive priority support from local government agencies.
- Defines ‘coalfield’ counties based on historical and current coal industry impact.
Who is affected
- Taxpayers in West Virginia
- Property owners in coalfield counties
- Educators, healthcare workers, first responders, and public employees
- County commissions, housing authorities, and municipal redevelopment agencies
- Residents of coalfield counties
Notable changes
- Creates a new tax credit specifically for housing revitalization in coalfield counties.
- Defines ‘coalfield’ counties based on a multi-faceted criteria related to coal mining history and economic impact.
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