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 bill specifically references a legislative rule that was filed in the State Register on July 25, 2025, and subsequently modified to address objections from the Legislative Rule-Making Review Committee before being refiled on September 24, 2025.

The purpose of this legislation is to provide the Tax Department with the authority to implement a structured approach to valuing public utility property, which is essential for determining property tax obligations. This amendment aims to ensure that the valuation process is consistent and meets regulatory standards, thereby facilitating fair taxation of public utility properties in West Virginia.

Statutes affected:
Introduced Version: 64-7-1