This bill proposes the addition of a new article to the Code of West Virginia, establishing a tax credit program aimed at providing reliable and affordable vehicles to low-income working individuals. It allows individual taxpayers and licensed automobile dealers to claim refundable tax credits of up to $6,000 for donating or selling eligible vehicles to qualified charitable organizations. The bill outlines specific criteria for what constitutes an eligible vehicle, including safety and reliability standards, and defines key terms such as "low-income worker" and "qualified charitable organization."

Furthermore, the bill mandates that the Tax Commissioner track the number and amount of tax credits claimed and provides a framework for multiple qualified organizations to utilize a percentage of the total allowable tax credits. The maximum amount of tax credits is set at $300,000 for the tax years 2025 through 2026, increasing to $1 million in subsequent years. The Tax Commissioner is also granted rulemaking authority to implement the provisions of this article effectively.

Statutes affected:
Introduced Version: 11-14D-1, 11-14D-2, 11-14D-3