The Senate Finance Committee has approved five bills to be reported to the full Senate with the recommendation that they pass.
SB 364 would incorporate changes made to the Streamlined Sales and Use Tax Agreement and specify effective dates.
SB 440 would specify where the Regional Jail and Correctional Facility Authority may invest its excess funds.
SB 25 would establish a credit against personal and corporate income taxes for farmers who donate edible agricultural products to food banks and other nonprofit food programs serving needy persons.
Chad Morrison, executive director of the Mountaineer Food Bank, was available to answer questions from the committee.
The bill was previously reported out of the Senate Agriculture and Rural Development Committee with the recommendation that it do pass.
HB 2590 would update the meaning of “federal taxable income” and certain other terms used in the West Virginia Corporation Net Income Tax Act by bringing them into conformity with their meaning for Internal Revenue Code’s definitions and specify effective dates.
HB 2594 would update the meaning of federal adjusted gross income and certain other terms used in the West Virginia Personal Income Tax Act and specify effective dates.
Senate Finance will meet again later today at 3 p.m. in 451M.
