WV HB3492

Authorizes the City of Huntington to levy a special district excise tax on sales of tangible personal property and services within the 146-acre City of Huntington Economic Opportunity Development District

Requires Huntington to hold a public hearing, submit an application, and obtain approval from the West Virginia Division of Economic Development before levying the tax

Establishes mandatory annual reporting requirements for all jurisdictions imposing a special district excise tax, with reports due by December 31 following each fiscal year ending June 30

Annual reports must be filed with the Governor, Secretary of Commerce, Secretary of Revenue, and Joint Committee on Government and Finance

Required report contents include: tax collections, property assessed values at district inception and current year, list of businesses operating in the district, debt amounts and amortization schedules, and projected dates for debt retirement and district dissolution