This bill proposes the repeal of section 11-13-2q of the Code of West Virginia, which currently provides a business and occupation tax exemption for certain coal-fired merchant power plants. The exemption applies to the generating capacity of the generating units that are owned or leased by the taxpayer and used for electricity generation within the state.

By enacting this bill, the Legislature aims to eliminate this tax exemption immediately upon passage, thereby subjecting these coal-fired merchant power plants to the business and occupation tax. The repeal reflects a shift in policy regarding the taxation of energy generation facilities in West Virginia.