SB627 modifies the Build WV Act by replacing the project cost cap with a cap on new tax credit liability, allowing smaller projects in rural areas.
SB627 amends the Build WV Act to replace the project cost cap with a cap on new tax credit liability. It allows for smaller projects in rural areas, provided they demonstrate a substantial positive economic or community impact. The bill requires periodic review and adjustment of the cap to reflect demand and usage. It also establishes a Build WV Credit Reserve Fund, which is adjusted annually to support the refundable portion of the property value adjustment tax credits.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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