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WV SB592
Bill
AI Summary
- Creates a nonrefundable tax credit equal to 50% of qualified maintenance and new infrastructure expenditures for Class II and Class III short line railroads operating in West Virginia
- Limits maintenance credits to $5,000 per mile of track owned, leased, or operated in the state; caps new infrastructure credits at $2 million per project and $5 million total annually
- Allows unused credits to be carried forward for five subsequent tax years and permits credits to be transferred or sold to other taxpayers
- Requires the Tax Commissioner to submit biennial reports evaluating the program's cost-effectiveness, including number of claimants and total expenditures
- Sets a sunset date of July 1, 2031, after which no new credits may be claimed unless the Legislature reenacts the provisions
Legislative Description
WV Short Line Railroad Modernization Act
Roads and Transportation
Last Action
To Governor 3/11/2026
3/11/2026
Committee Referrals
Finance2/10/2026
Finance1/23/2026
Full Bill Text
No bill text available