The Senate Committee on Economic Development has approved a bill that would provide tax exemptions for certain services and property sold for the repair, remodeling and maintenance of aircraft operated under a fractional ownership program.
The bill, SB 61, would cause a $1,500 tax impact to the state during fiscal year 2018, with no expenses in fiscal years thereafter.
Lead sponsor for the bill, Senator Mike Romano (D-Harrison) said the bill would help to diversify the state’s economy and provide job opportunities in growing north-central airports.
Romano said the bill would also “get us in line with the rest of the country,” since all other states have provisions for the proposed tax exemptions.
Chris Hall of the West Virginia Airspace Alliance spoke in support of the opportunities presented by the bill.
“This is an important jobs bill,” Hall said, “And it’s at a minimum cost to the state.”
Senator Chandler Swope (R-Mercer) also voiced his support for the bill, since he said he is a pilot himself who understands the potential of the bill for the state.
An identical bill passed the Senate 34-0 last year but was voted down in the House.
The bill will be referred to Senate Finance once reported to the floor.
