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WV SB761

Bill

Official Source

Status

Introduced

2/5/2026

Primary Sponsor

Bill Hamilton

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Creates tax credits for manufacturers that transform West Virginia-harvested roundwood into value-added products like veneer, cross-laminated timber, oriented strand board, wood pellets, and fiberboard
  • Standard credit rates range from $3 per green ton (0-140,000 tons) down to $1.25 per ton (700,001+ tons), with an annual cap of $1.25 million per facility
  • New facilities and expansions qualify for enhanced credits for five years at double the standard rates ($6, $4, and $2.50 per ton by tier) with a $2.5 million annual cap
  • Credits are prorated based on the percentage of feedstock sourced from West Virginia and apply against corporate net income tax or personal income tax for pass-through entities
  • Manufacturers who falsify records or misrepresent claims must repay 200% of the credit received plus interest and may face civil penalties, suspension, or permanent disqualification from the program

Legislative Description

Relating to in-state production of value-added forest products

Agriculture

Last Action

To Finance

2/12/2026

Committee Referrals

Finance2/12/2026
Natural Resources2/5/2026

Full Bill Text

No bill text available