This bill amends the Code of West Virginia to authorize specific municipalities to levy a special district excise tax for economic development purposes. It specifically allows the City of Huntington to impose such a tax for the benefit of the City of Huntington Economic Opportunity Development District, which encompasses 146 acres of land. The bill emphasizes that municipalities do not have inherent authority to levy taxes and must receive explicit authorization from the Legislature to do so.

In addition to the authorization for Huntington, the bill also grants the City of South Charleston the ability to levy a similar tax for the South Charleston Park Place Economic Opportunity Development District, which includes up to 2,100 contiguous acres. The legislation aims to ensure that the levying of these special district excise taxes does not adversely affect the General Revenue Fund of the state by requiring legislative approval for each economic development district proposed.

Statutes affected:
Introduced Version: 8-38-9
Engrossed Version: 8-38-9