CHARLESTON, W.Va. – Yesterday, Delegate Ryan Weld (R-Brooke) introduced two bills to encourage West Virginia’s young professionals to stay in the Mountain State.
The Next Generation Reinvestment Act, H.B. 2950, provides a state income tax credit of $1,000 for any individual under the age of 30 whom, after January 2012 has graduated from a college or university, technical or trade school or union apprenticeship. An individual must reside in West Virginia for the year they are given the tax credit in order to qualify.
The second bill introduced is the Young Entrepreneurship Investment Act (H.B. 2897) would waives the filing fees that paid to the Secretary of State’s Office for any entrepreneur or business owner under the age of 30. “My hope is that this legislation shows our young people that there are great opportunities here in West Virginia. While this won’t solve all of the issues we face in retaining our best and brightest, it shows them we’re serious about making West Virginia a place for them to continue to call home.” The sponsors of both bills include many the youngest members of the House of Delegates under the age of 35. The sponsors of Next Generation Reinvestment Act include Del. Kayla Kessinger (R-Fayette) and (R-Berkeley), Del. Jordan Hill and was sent to the House Committee on Finance for further consideration. The Young Entrepreneurship Investment Act sponsors include Del. Kayla Kessinger (R-Fayette), Del. Saira Blair (R-Berkeley), Del. Jordan Hill (R- Nicholas), Del. Geoff Foster (R- Putnam) and Del. Michael Ihle (R-Jackson). This bill was sent to the House Small Business, Entrepreneurship and Economic Development.