WV HB2148

Creates Tourism and Commercial Opportunity Zones designated by a selection panel of the Secretaries of Economic Development, Tourism, and Commerce, with county or municipal approval, to encourage commercial investment and business development in West Virginia

Establishes a special property tax rate for qualified investments of $250,000 or more within designated zones, taxing new commercial development at the lower Class 2 residential property rate instead of Class 3 or Class 4 rates for 10 years or the life of project financing, whichever is shorter

Provides a sales tax credit allowing businesses to offset collected sales tax against their corporate or personal income tax liability, capped at $1 million in total credits allocated statewide per fiscal year, with unused credits carried forward up to 15 years

Calculates eligible zone acreage based on county population (population divided by 1,000, multiplied by 30), and prohibits zone designations within existing Tax Increment Financing (TIF) districts

Imposes penalties requiring repayment of all claimed tax credits plus interest if investors fail to maintain qualified investments for the required 10-year period, with mandatory public disclosure of all taxpayers claiming credits and accountability reports due every three years beginning February 1, 2026