If you’d like to show your support of the increased rate, join us during the Economic Development Committee meeting on Wednesday, Feb. 22nd, at 1:00 p.m. in the Senate Judiciary Room (208W).
During the first week of the legislative session, two bills to increase the current rate of the historic rehabilitation tax credit from 10% to 25% were introduced in the Senate. Majority Leader Ryan Ferns (R – Ohio, 01) introduced Senate Bill 238, and Senator Glenn Jeffries (D – Putnam, 08) introduced Senate Bill 323.
The major difference between the two bills is that SB 323 includes a date after which the increased rate takes effect — only rehab projects started after June 30, 2017 would be eligible for the 25% credit.
Check out this infographic from the West Virginia Legislature to see the full journey a bill must undertake before it can become law.
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