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WV HB5389
Bill
Status
Introduced
2/10/2026
Primary Sponsor
Gary Howell
Click for details
AI Summary
- Creates a 30% transferable tax credit for nonprofit organizations that convert existing hotels, motels, or commercial buildings into housing for homeless veterans
- Tax credits can be applied against corporation net income tax, personal income tax, business franchise taxes, or other taxes administered by the Department of Revenue (excluding severance taxes)
- Nonprofit organizations may sell, assign, or transfer the credits to other taxpayers, with unused credits carried forward up to 10 years
- Certified projects must provide supportive services including case management, veterans benefits assistance, employment support, and behavioral health referrals
- Properties must remain in service as veterans housing for a minimum of 15 years, with proportional credit recapture if compliance ends early; effective date is July 1, 2026
Legislative Description
Veterans Housing Redevelopment Tax Credit Act
Taxation
Last Action
To House Finance
2/10/2026
Committee Referrals
Finance2/10/2026
Full Bill Text
No bill text available