West Virginia HB5389 establishes a tax credit for nonprofit organizations redeveloping existing buildings into housing for homeless veterans.

West Virginia HB5389, the Veterans Housing Redevelopment Tax Credit Act, creates a transferable tax credit for eligible nonprofit organizations that redevelop existing structures into housing for homeless veterans. The credit equals 30% of qualified redevelopment costs and can be applied against various taxes. Projects must convert existing hotels, motels, or commercial buildings into residential units for homeless veterans and provide supportive services. Unused credits can be carried forward for up to 10 years.

West Virginia HB5389 establishes a tax credit for nonprofit organizations redeveloping existing buildings into housing for homeless veterans.

West Virginia HB5389, the Veterans Housing Redevelopment Tax Credit Act, creates a transferable tax credit for eligible nonprofit organizations that redevelop existing structures into housing for homeless veterans. The credit equals 30% of qualified redevelopment costs and can be applied against various taxes. Projects must convert existing hotels, motels, or commercial buildings into residential units for homeless veterans and provide supportive services. Unused credits can be carried forward for up to 10 years.