Relating to authorizing the Tax Department to promulgate a legislative rule relating to the valuation of public utility property for ad valorem property tax purposes.

HB 4253 authorizes West Virginia's Tax Department to implement a specific rule (110 CSR 01M) for valuing public utility property (like electricity and gas infrastructure) used in calculating property taxes. This rule, developed after addressing legislative committee concerns, directly affects utility companies by determining how their property is assessed for tax purposes. The bill formally approves the Tax Department’s modified rule, which sets standards for property valuation under ad valorem (based on value) property tax laws. It does not change tax rates or create new taxes, but establishes the administrative process for how utility property is valued.