Loading chat...
WV HB5432
Bill
Status
Introduced
2/11/2026
Primary Sponsor
Scot Heckert
Click for details
AI Summary
- Creates the "West Virginia Disaster Repair and Recovery Tax Credit Act" providing tax credits against severance tax for businesses that assist with disaster repair and recovery efforts on public property and infrastructure
- Credit amount equals total qualifying expenditures for debris removal, site preparation, and construction/repair of public property following natural disasters (hurricanes, tornadoes, floods, earthquakes, fires, etc.), including equipment and labor costs
- Credits may offset up to 20% of annual severance tax liability, with unused credits carried forward for up to 10 years before forfeiture
- Secretary of the Department of Environmental Protection must certify all projects before work begins, with a total cap of $5 million in certified expenditures eligible for credits
- Effective for tax years beginning January 1, 2026, with credits transferable to successor businesses that continue operations in West Virginia
Legislative Description
Relating to establishing disaster repair and recovery effort tax credit for taxpayers subject to the severance and business privilege tax in certain circumstances
Taxation
Last Action
To House Energy and Public Works
2/11/2026
Committee Referrals
Energy and Public Works2/11/2026
Full Bill Text
No bill text available