WV HB3457

Extends the historic rehabilitation tax credit to apply against insurance premium taxes (Chapter 33) in addition to the existing corporation net income tax

Establishes that as of July 1, 2025, all tax credits issued through tax credit certificates will be available for the year the qualified rehabilitated building is placed in service, rather than a different timing mechanism

For phased rehabilitation projects, tax credits become available when each phase is placed in service, as defined under federal regulations (26 C.F.R. §1.179-4(c))

Maintains the existing 25% credit rate for qualified rehabilitation expenditures on certified historic structures (for applications received after December 31, 2017)