West Virginia House Bill 5304

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Spectrum: Slight Partisan Bill (Republican 8-3)
Status: Introduced on January 29 2024 - 25% progression
Action: 2024-02-07 - To House Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to create the Small Business Payroll Tax Credit, a three-year program establishing a tax credit for defined payroll taxes paid on up to 10,400 employee hours at a statutorily designated wage rate for new businesses with 15 or fewer employees, allowing for growth to 25 employees but capping the credit at 10,400 employee hours and eliminating the credit for businesses of 26 employees or greater; establishing a start date and end date; listing the amounts of credits which may be claimed in each year of the program; and requiring the Department of Economic Development to track the progress of this program and present a report.

Creating the Small Business Payroll Tax Credit

Del. Michael Hornby [R]	Del. Bob Fehrenbacher [R]	Del. Jarred Cannon [R]	Del. Wayne Clark [R]
Del. Kayla Young [D]	Del. Geno Chiarelli [R]	Del. Josh Holstein [R]	Del. Sean Hornbuckle [D]
Del. Hollis Lewis [D]	Del. Darren Thorne [R]	Del. Michael Hite [R]

Date	Chamber	Action
2024-02-07	House	To House Finance
2024-02-07	House	With amendment, do pass, but first to Finance
2024-01-29	House	To House Economic Development and Tourism
2024-01-29	House	Introduced in House
2024-01-29	House	To Economic Development and Tourism then Finance
2024-01-29	House	Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
11	13NN	1	New Code	See Bill Text
11	13NN	2	New Code	See Bill Text
11	13NN	3	New Code	See Bill Text
11	13NN	4	New Code	See Bill Text
11	13NN	5	New Code	See Bill Text

Type	Source
Summary	http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5304&year=2024&sessiontype=RS&btype=bill
Text	http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb5304%20intr.htm&yr=2024&sesstype=RS&i=5304
Amendment	http://www.wvlegislature.gov/legisdocs/chamber/2024/RS/com_amends/hb5304%20h%20econ%20am%20_1.htm
Supplement	http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=891078825