This bill amends and reenacts section 64-7-1 of the Code of West Virginia, 1931, to authorize the Tax Department to promulgate a legislative rule concerning the valuation of public utility property for ad valorem property tax purposes. The specific legislative rule in question was filed in the State Register on July 25, 2025, and subsequently modified to address the concerns of the Legislative Rule-Making Review Committee before being refiled on September 24, 2025.

The bill aims to streamline the process for the Tax Department to establish guidelines for assessing the value of public utility properties, which is essential for determining property tax obligations. This legislative action reflects the state's commitment to ensuring that property tax assessments are conducted fairly and in accordance with updated regulations.

Statutes affected:
Introduced Version: 64-7-1