SB 403
Relating to expanding definition of "tourism attraction"
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill expands the definition of "tourism attraction" under West Virginia’s Tourism Development Act. Specifically, it includes lodging facilities within the definition, allowing them to qualify for tourism development project tax credits. The bill also clarifies certain definitions related to projects and attractions, aiming to streamline the application process for businesses seeking these credits.
Key provisions
- Expands the definition of ‘tourism attraction’ to include lodging facilities.
- Clarifies definitions related to ‘approved company,’ ‘approved costs,’ and ‘project’ within the Tourism Development Act.
- Specifies requirements for lodging facilities to qualify as a tourism attraction, including size and historical significance criteria.
- Defines ‘Tourism development project’ and ‘Tourism development expansion project’ to align with the Act’s provisions.
- Establishes a base tax revenue amount for calculating tourism development project tax credits.
- Outlines ineligible companies, specifically excluding pari-mutuel racing facilities and lottery retailers.
Who is affected
- Tourism businesses
- Lodging facilities
- The West Virginia Department of Economic Development
- Taxpayers seeking tourism development credits
Notable changes
- Previously, lodging facilities were excluded from the definition of ‘tourism attraction.’
Sponsors
Official sponsors from legislative records.
Primary sponsor
Smith (Mr. President)
Cosponsor
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