West Virginia House Bill 2050 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 11 2023 - 25% progression, died in committee
Action: 2023-01-18 - To House Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to create the West Virginia Economic Diversification Act. The bill stimulates economic growth in manufacturing industries by amending the definition of manufacturing for purposes of special method for appraising qualified capital additions to manufacturing facilities for property tax purposes. The bill amends the formula for calculating the credit allowed for manufacturing investment to include tire manufacturing, sport fishing equipment manufacturing, bow, quiver, broadhead, and point manufacturing, arrow shaft manufacturing, vaccine manufacturing, feed stock manufacturing, or fuel refinery manufacturing facility. The bill provides for its administration and enforcement of the tax credit. Finally, the bill exempts certain taxes.

West Virginia Economic Diversification Act

Del. Gary Howell [R]

Date	Chamber	Action
2023-01-18	House	To House Finance
2023-01-18	House	With amendment, do pass, but first to Finance
2023-01-11	House	To House Economic Development and Tourism
2023-01-11	House	Introduced in House
2023-01-11	House	To Economic Development and Tourism then Finance
2023-01-11	House	Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
11	13MM	1	New Code	See Bill Text
11	13MM	10	New Code	See Bill Text
11	13MM	11	New Code	See Bill Text
11	13MM	12	New Code	See Bill Text
11	13MM	13	New Code	See Bill Text
11	13MM	14	New Code	See Bill Text
11	13MM	15	New Code	See Bill Text
11	13MM	16	New Code	See Bill Text
11	13MM	17	New Code	See Bill Text
11	13MM	2	New Code	See Bill Text
11	13MM	3	New Code	See Bill Text
11	13MM	4	New Code	See Bill Text
11	13MM	5	New Code	See Bill Text
11	13MM	6	New Code	See Bill Text
11	13MM	7	New Code	See Bill Text
11	13MM	8	New Code	See Bill Text
11	13MM	9	New Code	See Bill Text
11	13S	4	Amended Code	Citation Text
11	15	9V	New Code	See Bill Text
11	6F	2	Amended Code	Citation Text

Type	Source
Summary	http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=2050&year=2023&sessiontype=RS&btype=bill
Text	http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb2050%20intr.htm&yr=2023&sesstype=RS&i=2050
Amendment	http://www.wvlegislature.gov/legisdocs/chamber/2023/RS/com_amends/hb2050%20h%20econ%20am%20_1.htm
Supplement	http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=855142077