The bill aims to amend the West Virginia Property Tax Adjustment Act by replacing the existing motor vehicle property tax credit with a refund system. Specifically, it changes the terminology from "credit" to "refund" throughout the relevant section of the law, clarifying that eligible taxpayers will receive a refund for the ad valorem property tax paid on their motor vehicles. The bill also outlines the definition of "eligible taxpayer," which includes both owners and lessors of motor vehicles, and specifies that motor vehicle dealers are excluded from claiming the refund based on retail inventories.

Additionally, the bill introduces a streamlined reimbursement process, requiring the Sheriff's Office to report eligible taxpayers to the Tax Division weekly, ensuring that refunds are issued within 30 days of payment. The reimbursement will be processed either through a check or direct deposit by the State Treasurer's Office. Overall, the legislation seeks to simplify the tax adjustment process for motor vehicle owners and lessors in West Virginia, enhancing efficiency and clarity in the tax refund system.

Statutes affected:
Introduced Version: 11-13MM-3