Relating to in-state production of value-added forest products

This bill creates tax credits for West Virginia manufacturers that transform locally harvested wood into finished "value-added" products like plywood, wood pellets, or engineered lumber. It provides tiered credits ($1.25-$3 per ton) based on the volume of West Virginia-sourced wood processed, with higher rates for new facilities or expansions ($2.50-$6 per ton) for five years. To qualify, manufacturers must meet a "minimum transformation standard" (e.g., altering wood’s structure), avoid basic handling like debarking, and self-report production data. Credits are capped at $1.25 million annually per facility and apply to corporate or personal income tax. The law aims to incentivize local processing of forest resources while preventing credits for raw log handling.