West Virginia House Bill 2123 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 10 2021 - 25% progression, died in committee
Action: 2021-02-10 - To House Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to reduce personal income tax rates when personal income tax reduction fund is funded at a certain threshold from funds derived from sales and use taxes, certain lottery games that utilize an electronic computer and a video screen, racetrack table games, lottery games that are derived from limited video lottery operations, derived from sports wagering at a secondary location of a licensed racetrack, and derived from interactive gaming at a primary or secondary location of a licensed racetrack, and further reducing those rates when that threshold is reached again. The bill establishes a personal income tax reduction fund and provides for deposits into the personal income tax reduction fund. The bill specifies rate reductions and provides for deposits from the personal income tax reduction fund into the general revenue fund. The bill imposes duties on the State Tax Commissioner and other state agencies officers; and provides for investment and disposition of fund.

Reducing personal income tax rates when personal income tax reduction fund is funded at a certain threshold

Del. Daniel Linville [R]

Del. Paul Espinosa [R]

Date	Chamber	Action
2021-02-10	House	To House Finance
2021-02-10	House	Introduced in House
2021-02-10	House	To Finance
2021-02-10	House	Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
11	21	4e	Amended Code	Citation Text
11B	2	33	New Code	See Bill Text

Type	Source
Summary	http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=2123&year=2021&sessiontype=RS&btype=bill
Text	http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=HB2123%20INTR.htm&yr=2021&sesstype=RS&i=2123
Supplement	http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=795872752
Supplement	http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=799692189