This bill proposes an amendment to the Code of West Virginia by adding a new section, 11-21-12o, which aims to exempt the first $20,000 of income earned by resident individuals from personal income taxation. The legislation specifies that this modification will apply to taxable years beginning on or after January 1, 2025, and will reduce the federal adjusted gross income for West Virginia residents, including those filing jointly as a husband and wife.

The primary objective of this bill is to provide financial relief to West Virginia residents by allowing them to retain the first $20,000 of their income without being subject to personal income tax. This change is intended to support individuals and families by increasing their disposable income and potentially stimulating local economies.