West Virginia SJR12 proposes an amendment to eliminate the business inventory tax and requires alternative funding.

West Virginia SJR12 proposes an amendment to the state constitution to eliminate the business inventory tax. The amendment prohibits the state from imposing an ad valorem tax on tangible business inventory. It mandates the Legislature to provide alternative funding mechanisms or adjustments in state aid allocation to offset any revenue loss. Local governments may adjust their tax policies to maintain fiscal stability. The amendment will become effective upon ratification by the voters of West Virginia.

West Virginia SJR12 proposes an amendment to eliminate the business inventory tax and requires alternative funding.

West Virginia SJR12 proposes an amendment to the state constitution to eliminate the business inventory tax. The amendment prohibits the state from imposing an ad valorem tax on tangible business inventory. It mandates the Legislature to provide alternative funding mechanisms or adjustments in state aid allocation to offset any revenue loss. Local governments may adjust their tax policies to maintain fiscal stability. The amendment will become effective upon ratification by the voters of West Virginia.