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WV HJR11

Joint Resolution

Official Source

Status

Introduced

2/13/2025

Primary Sponsor

Brandon Steele

Click for details

Origin

House of Delegates

2025 Regular Session

AI Summary

  • Proposes a constitutional amendment to allow the Legislature to exempt tangible inventory personal property directly used in business activity from ad valorem (value-based) property taxation
  • Adds business inventory to the existing list of property that may be exempted from taxation, which already includes educational, religious, charitable property, cemeteries, and agricultural products
  • Requires the amendment question to be submitted to West Virginia voters at the general election in 2028
  • Designates the proposal as "Amendment No. 1" with the official title "Business Inventory Tax Exemption Amendment"
  • Requires two-thirds approval from members elected to each house of the Legislature to place the amendment on the ballot

Legislative Description

Authorizing the Legislature to exempt tangible inventory personal property directly used in business activity from ad valorem property taxation by general law

Last Action

To House Finance

2/13/2025

Committee Referrals

Finance2/13/2025

Full Bill Text

No bill text available