SB 1, the Small Business Growth Act, creates a new tax credit program administered by the West Virginia Department of Commerce to incentivize investment in small businesses. It provides insurance companies with a credit against their state premium tax equal to 15% of qualifying capital investments made by certified "growth funds" into eligible West Virginia businesses. Eligible businesses must have fewer than 250 employees and principal operations in the state, and investments are limited to 20% of a growth fund's capital authority or $7.5 million per business. The credit is claimed annually based on certified investments, with the program requiring annual reporting and prohibiting certain investment types.
HB 4766 increases West Virginia's homestead property tax exemption for eligible homeowners from a flat $20,000 to 50% of a property's assessed value (capped at $20,000 if the property is valued below $40,000). This change directly affects homeowners aged 65 or older or certified as permanently and totally disabled who meet the state's residency requirements. The bill modifies existing law (§11-6B-3) to adjust the exemption calculation method while preserving the same eligibility criteria. It does not alter residency rules or other qualifying conditions for the exemption.
HB 4043 would add a $20,000 property tax exemption for West Virginia farmers who earn more than half their income from farming. This new exemption applies in addition to the existing $20,000 homestead exemption for qualifying residents (like seniors or disabled individuals). It directly affects West Virginia resident farmers whose primary income source is agriculture, reducing their property tax burden on their primary residence. The bill creates a specific tax break for farming households by expanding the current homestead exemption program to include this additional benefit for qualifying farm-dependent families.
SB 389 creates a 25% state income tax credit for property owners who rehabilitate certified historic buildings in West Virginia. The credit applies to both residential and non-residential buildings listed on the National Register of Historic Places or located in designated historic districts, as certified by the West Virginia Department of Tourism and the National Park Service. To qualify, rehabilitation work must meet "Secretary of the Interior's Standards" and cost at least 20% of the property's assessed value. Property owners can claim this credit against income taxes imposed under specific sections of the state tax code.
HB 4738 would allow West Virginia counties to impose an annual tax on vacant or mostly vacant commercial, industrial, or institutional buildings (defined as unoccupied for 6+ months or over 50% floor area unused). Counties could set the tax as a percentage of property value or a flat fee, with owners receiving 30 days' notice and appeal rights to court. Exemptions cover properties under renovation, actively listed for sale/lease, or affected by disasters or hardship. The tax would be collected like regular property taxes, creating a lien if unpaid, to encourage property use and reduce blight.
HB 4015 amends West Virginia's Tourism Development Act to expand eligibility for tax credits by adding lodging facilities (like hotels) to the definition of "tourism attraction." This change directly affects tourism businesses that own or operate lodging properties, allowing them to claim credits for eligible project costs such as construction, equipment, and utilities. The bill modifies the existing definition in §5B-2E-3 of the code to include lodging facilities as qualifying projects under the Tourism Development Act. It does not change the credit calculation or other program requirements, only broadening the types of facilities that can participate. The bill is currently in the early stages of the legislative process.
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.
HB 4906 would exempt West Virginia residents aged 70 or older from paying real estate taxes starting with the 2027 tax year. The bill amends existing tax code sections (§11-3-9 and §11-6B-3) to add this new category of property tax exemption for qualifying seniors. It directly affects older homeowners who meet the age requirement and own residential property in West Virginia. The policy change modifies the state's existing property tax exemption framework to include this specific age group, effective for tax assessments beginning in 2027.
SB 594 would create a sales tax exemption for eligible disabled veterans purchasing vehicles in West Virginia. It exempts qualifying veterans from paying the state's 5-6% vehicle sales tax (depending on purchase date) on new or used vehicles. The bill establishes specific eligibility qualifications (details not included in this text) and sets an effective date for the exemption. This directly affects disabled veterans who buy vehicles in West Virginia, removing a financial burden related to vehicle purchases.
SB 144 would gradually increase West Virginia's homestead property tax exemption for eligible homeowners aged 65+ or permanently disabled residents. The bill phases in a higher exemption amount (beyond the current $20,000) over time, but only if voters approve a related constitutional amendment. It also repeals a provision limiting how much property tax rates can rise when property appraisals increase. This change directly affects qualifying homeowners by reducing their property tax burden, contingent on constitutional approval.
