The bill amends the Neighborhood Investment Program under West Virginia law, specifically section 11-13J-12, to extend the program's expiration date. The Neighborhood Investment Program will now terminate on July 1, 2031, unless terminated sooner by law. Taxpayers will not be entitled to tax credits for contributions made to certified projects after this date, but those who have already gained entitlement to credits from eligible contributions made before July 1, 2031, will retain their entitlement and can apply the credits as per the existing requirements.

Additionally, the bill mandates that an independent review of the Neighborhood Investment Program be conducted every three years, starting from December 15, 2005, with findings presented to the Joint Committee on Government and Finance. This provision aims to ensure ongoing evaluation and oversight of the program's effectiveness and impact.

Statutes affected:
Introduced Version: 11-13J-12
Engrossed Version: 11-13J-12
Enrolled Version: 11-13J-12