West Virginia Senate Bill 658 (Prior Session Legislation)

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February 20 2012 - To Economic Development
Pending: Senate Economic Development Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to create the Energy Intensive Industrial Consumers Revitalization Tax Credit Act. The bill establishes tax credits for suppliers of coal to certain electric utilities who are subject to the coal severance tax. The bill makes legislative findings. The bill establishes a $40 million limit on the tax credits. The bill sets forth when the tax credits may be taken. The bill sets forth how the tax credits are calculated and allocated. The bill requires that in order to take the tax credit the taxpayer must make a payment equal to ninety-seven percent of the credit to the utility that provides the electric power to the special rate customer. The bill establishes that the tax credit expires in ten years from the date it becomes effective. The bill grants the Public Service Commission certain authority concerning special rates. The bill also requires information on special rates in the Public Service Commissions annual report. §11-13CC-1, §11-13CC-2, §11-13CC-3, §11-13CC-4 and §11-13CC-5

Creating Energy Intensive Industrial Consumers Revitalization Tax Credit Act

Sen Clark S. Barnes	Sen Brooks McCabe	Sen Evan H. Jenkins	Sen Walt Helmick
Sen Mike Hall	Sen Mike Green	Sen Dan Foster	Sen John Pat Fanning
Sen Karen L. Facemyer	Sen Donna J. Boley	Sen David Nohe

Date	Chamber	Action
2012-02-20		To Economic Development
2012-02-20		Introduced in Senate
2012-02-20		To Economic Development then Finance
2012-02-20		Filed for introduction

HB4632 (Same As) 2012-02-20 - To House Finance

Chapter	Article	Section	Citation Type	Statute Text
11	13CC	1	New Code	See Bill Text
11	13CC	2	New Code	See Bill Text
11	13CC	3	New Code	See Bill Text
11	13CC	4	New Code	See Bill Text
11	13CC	5	New Code	See Bill Text
24	2	1j	Amended Code	Citation Text

Type	Source
Summary	http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=658&year=2012&sessiontype=RS&btype=bill
Text	http://www.legis.state.wv.us/Bill_Status/bills_text.cfm?billdoc=sb658%20intr.htm&yr=2012&sesstype=RS&i=658