2026 Regular Session
SB 592
WV Short Line Railroad Modernization Act
Law
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill, the West Virginia Short Line Railroad Modernization Act, creates a tax credit program designed to encourage investment in West Virginia’s short line railroads. It provides incentives for both maintaining existing tracks and building new rail infrastructure, such as sidings and spurs. The credit is structured with limitations and requirements for claiming it, including a sunset date.
Key provisions
- Creates a tax credit for qualified short line railroad maintenance expenditures (up to 50% of expenses).
- Creates a tax credit for qualified new rail infrastructure expenditures (up to 50% of expenses).
- Limits the amount of the credit based on track mileage and total project costs.
- Requires eligible taxpayers to submit a certificate of eligibility to claim the credit.
- Allows unused credits to be carried forward for up to five years.
- Permits the transfer of tax credits to other taxpayers.
- Mandates a review and accountability report on the program's effectiveness every two years.
- Sets a sunset date for the law's provisions (July 1, 2031).
Who is affected
- Short line railroad companies operating in West Virginia
- Owners and lessees of rail sidings, industrial spurs, and industry tracks
- The West Virginia Department of Revenue
- Taxpayers subject to West Virginia state taxes
Notable changes
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