Charleston, West Virginia – Delegate Justin Marcum (D - Mingo) and his colleagues H. White, J. Nelson, R. Phillips, Lynch, Campbell, Byrd, Moye, Butler, Faircloth and Hartman are sponsoring House Bill 2165. The bill would create a tax credit for certain businesses with more than 25 employees that relocate to reclaimed mountaintop removal land.
“We want to encourage diversification of southern West Virginia’s economy and attract businesses to relocate,” Marcum said.
The Bill would be effective for taxable years beginning July 1, 2015 if not otherwise changed in the code upon passage. The Tax Commissioner would propose rules in accordance with the code to accomplish the purposes of this proposed bill.
“Southern West Virginia is a great place to do business, we just need to create different avenues for business to take,” Marcum said. “This tax break is just the incentive we were looking for and we have ample sites available in the coal fields for just this purpose.”
The bill has been introduced in the House and was referred to the House Small Business, Entrepreneurship and Economic Development Committee last month.