Timber Innovation and Manufacturing Boost for Economic Revitalization Act

HB 4479 provides tax credits to West Virginia manufacturers that transform locally harvested wood into value-added products like veneer, engineered lumber, or wood pellets. The credits - ranging from $1.25 to $6 per ton of processed wood - apply to corporate or personal income tax based on volume tiers, with annual caps of $1.25 million for existing facilities and $2.5 million for new operations or expansions. To qualify, manufacturers must meet a "minimum transformation standard" (e.g., altering wood structure) using West Virginia-sourced feedstock, excluding basic handling like cutting or sorting. Credits are prorated based on the percentage of West Virginia wood used in production.