This bill proposes the creation of a new article in the West Virginia Code, specifically aimed at providing tax credits to facilitate the donation and purchase of reliable and affordable vehicles for low-income workers. It establishes refundable tax credits of up to $6,000 for individual taxpayers and licensed automobile dealers who donate or sell eligible vehicles through qualified charitable organizations. The bill outlines the 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."

Additionally, the bill mandates that the Tax Commissioner track the number and amount of tax credits claimed and allows for multiple qualified charitable organizations to utilize a percentage of the total allowable tax credits for the year. The maximum amount of tax credits is set at $300,000 for the tax years 2025 through 2026, increasing to $1 million for 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