WV HB4016

Creates a 25% state income tax credit for qualified rehabilitation expenditures on certified historic structures, available for both residential and nonresidential buildings listed on the National Register of Historic Places or located within historic districts

Consolidates existing historic rehabilitation tax credits from multiple code sections into a single new article (Article 13NN) while terminating the previous credits effective June 30, 2026

Allows tax credits to be transferred, sold, or assigned to third parties, with unused credits carried forward for up to five years following the first year of entitlement

Requires applicants to be in good standing with no delinquent state, local, or property taxes, and mandates a federal historic rehabilitation credit was potentially earned on the same project

Establishes recapture provisions allowing recovery of credits if projects fail to meet completion requirements, certification standards, or good standing requirements, with an extended five-year audit period