SB 935
Eliminating business and occupation tax exemption for certain coal-fired merchant power plants
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill seeks to remove a tax exemption currently in place for certain coal-fired merchant power plants operating in West Virginia. Specifically, it targets the business and occupation tax exemption related to the generating capacity of these plants owned or leased by taxpayers. The goal is to eliminate a financial advantage currently afforded to these power plants, potentially impacting state tax revenue. This change would apply to electricity generated by these facilities within the state.
Key provisions
- Repeals §11-13-2q of the West Virginia Code.
- Eliminates the business and occupation tax exemption for coal-fired merchant power plants.
- The exemption applies to generating capacity owned or leased by the taxpayer.
- The exemption applies to electricity generated in West Virginia.
Who is affected
- Coal-fired merchant power plants
- Taxpayers owning or leasing these plants
- The State of West Virginia (through reduced tax revenue)
Notable changes
- Removes a current tax incentive for coal-fired power generation.
- This change will affect the financial operations of the plants and their owners.
Fiscal impact
The bill is expected to reduce state tax revenue.
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