WV HB4858

Establishes the West Virginia Historic Rehabilitated Building Tax Credit Act, consolidating and reorganizing existing historic rehabilitation tax credits into a centralized article (§11-13NN) effective June 30, 2026

Provides a 25% tax credit on qualified rehabilitation expenditures for certified historic structures (both residential and nonresidential) that are listed on the National Register of Historic Places or located in registered historic districts

Allows tax credits to be transferred, sold, or assigned to other taxpayers, and permits credits to be carried forward for up to 10 tax years following the first year the credit is authorized

Requires applicants to pay an application fee equal to the lesser of 0.5% of requested tax credits or $10,000, and mandates taxpayers be current on all state, local, and property taxes to qualify

Sunsets the existing rehabilitation credits under §11-21-8a and §11-21-8g as of June 30, 2026, while preserving credits already earned before that date and establishing recapture provisions for non-compliance