West Virginia SB131 creates a severance tax credit for infrastructure improvements and coal production facilities.

West Virginia SB131 introduces a severance tax credit for expenditures on road and highway infrastructure improvements and coal production and processing facilities. Eligible taxpayers can claim a credit against their severance tax liability for investments in infrastructure and coal facilities. The credit is calculated based on the percentage of the cost of the property or services used in the projects. The bill limits the total credits that can be certified by the Secretary of Transportation and requires the maintenance of records for each item of qualified property.

West Virginia SB131 creates a severance tax credit for infrastructure improvements and coal production facilities.

West Virginia SB131 introduces a severance tax credit for expenditures on road and highway infrastructure improvements and coal production and processing facilities. Eligible taxpayers can claim a credit against their severance tax liability for investments in infrastructure and coal facilities. The credit is calculated based on the percentage of the cost of the property or services used in the projects. The bill limits the total credits that can be certified by the Secretary of Transportation and requires the maintenance of records for each item of qualified property.