This bill amends the Code of West Virginia to authorize the Mason County Commission to levy a special district excise tax for the benefit of the Town of Henderson Economic Opportunity District, which encompasses approximately 3,854 contiguous acres. The bill outlines that the Mason County Commission can create this district and impose the excise tax without needing approval from the executive director of the development office. Additionally, the commission is granted the authority to determine various tax revenue amounts, including the base district tax and estimated net annual district tax revenue, with the Tax Commissioner required to provide certification of the base tax revenue amount within 30 days of the request.
The legislation also includes provisions for other county commissions, such as those in Ohio, Harrison, Monongalia, Jefferson, and Mercer counties, to levy similar special district excise taxes for their respective economic opportunity development districts. Notably, the bill emphasizes that the special district excise tax will not adversely impact the General Revenue Fund of the state and requires legislative authorization for each economic opportunity development district proposed. The overall aim of the bill is to enhance economic development in the specified areas by allowing local governments to generate additional revenue through these excise taxes.
Statutes affected: Introduced Version: 7-22-9