The House Committee on Finance met this evening.
Committee Hearing
House Bill 4416 would reclassify forestry equipment as class I to provide tax benefits, as forestry is a part of agriculture.
House Bill 4452 removes the Mortmain restrictions on religious organizations.
House Bill 5177 would encourage the construction of entry-level homes by providing a sales tax rebate on homes 1,600 square feet or less.
House Bill 5382 would extend the Neighborhood Investment Program to July 1, 2031.
House Bill 5460 establishes a tax rebate for new home construction.
House Bill 5459 would bring the health care provider tax on healthcare managed care organizations into compliance with new federal regulations.
House Bill 5074 changes how the Medical Cannabis Program Fund is allocated: 15 percent will go to administrative costs, 15 percent to the Department of Agriculture for testing at West Virginia State University laboratory, 50 percent to the Fight Substance Abuse Fund, 10 percent to Marshall University for cannabis research, and 10 percent to WVU’s Rockefeller Neuroscience Institute for research.
House Bill 4784 extends the Qualified Opportunity Zone until July 1, 2032.
House Bill 4418 creates the Tax Efficiency Act of 2026 to allow municipal business and occupation or privilege taxes to be paid through the statewide electric data processing system.
House Bill 4768 updates definitions in the West Virginia College Prepaid Tuition and Savings Program Act to match changes in the federal 529 law.
