Encouraging retired persons to move into West Virginia

HB 3103 would exempt the first $2,000 of retirement benefits received from West Virginia public employee systems, state teachers' retirement systems, or qualifying federal retirement systems from West Virginia personal income tax. This tax modification applies to retirees moving to West Virginia or already residing there, directly affecting individuals receiving these retirement benefits. The bill amends Section 11-21-12 of West Virginia's tax code to exclude this portion of retirement income from taxable income. It aims to encourage retirees to relocate to or remain in West Virginia by reducing their state tax burden on retirement income. The bill is currently pending in the House Finance Committee after its March 4, 2025, introduction.