Source: http://www.wvlegislature.gov/Bulletin_Board/2006/2X/s_journal/sdj-01st%20day.htm
Timestamp: 2018-01-17 07:59:43
Document Index: 610568198

Matched Legal Cases: ['§11', '§11', '§11', '§11', '§11', '§5', '§5', '§5', '§5', '§11', '§11', '§11', '§11', '§11', '§11', '§11']

Charleston, W. Va., Thursday, November 9, 2006
Pursuant to the proclamation of His Excellency, the Governor, the Honorable Joe Manchin III, dated the ninth day of November, two thousand six, convening the seventy-seventh Legislature of West Virginia in extraordinary session today (Thursday, November 9, 2006), under the provisions of section seven, article seven of the Constitution of West Virginia, the Senate assembled in its chamber in the state capitol in the City of Charleston at six o'clock p.m., and was called to order by its President, the Honorable Earl Ray Tomblin.
Senators Bailey, Barnes, Boley, Bowman, Caruth, Chafin, Deem, Dempsey, Edgell, Facemyer, Fanning, Foster, Guills, Harrison, Helmick, Hunter, Jenkins, Kessler, Lanham, Love, McCabe, McKenzie, Minard, Minear, Oliverio, Plymale, Prezioso, Sharpe, Sprouse, Unger, Weeks, White, Yoder and Tomblin (Mr. President).
FIRST:Legislation to increase the refundable credit applicable against the personal income tax for low-income senior citizens and low-income disabled persons who qualify for the homestead exemption pursuant to section three, article six-b, chapter eleven of the Code of West Virginia, to an amount equal to the ad valorem property taxes paid on up to the first twenty thousand dollars of taxable assessed value of the homestead.
SECOND:Legislation to abolish the corporation net income tax adjustment on gains realized from the sale or other disposition of property having a higher fair market value on the first day of July, one thousand nine hundred sixty-seven, than the adjusted basis at said date for federal income tax purposes.
THIRD:Legislation to reduce the rate of consumers sales and service tax and use tax on the sale, purchase and use of food and food ingredients intended for human consumption by an amount not to exceed one percent of the "sales price" as defined in section two, article fifteen-b, chapter eleven of the Code of West Virginia, effective the first day of July, two thousand seven; to further reduce the rate of consumers sales and service tax and use tax on the sale, purchase and use of food and food ingredients intended for human consumption by an amount not to exceed one percent of the "sales price" as defined in section two, article fifteen-b, chapter eleven of the Code of West Virginia, effective the first day of July, two thousand eight; and to set the rate of tax on the sale, purchase and use by consumers of "prepared food", "candy", "food sold through vending machines" and "soft drinks" as defined in section two, article fifteen-b, chapter eleven of the Code of West Virginia, at six percent of the "sales price" as defined in section two, article fifteen-b, chapter eleven of the Code of West Virginia.
FOURTH:Legislation to reduce the rate of the business franchise tax by an amount not to exceed fifteen one hundredths of one percent of the value of the taxpayer's "tax base" as determined pursuant to article twenty-three, chapter eleven of the Code of West Virginia.
FIFTH:Legislation to reduce the rate of the corporation net income tax by an amount not to exceed twenty-five one hundredths of one percent of the West Virginia taxable income of every domestic or foreign corporation engaging in business in this state or deriving income from property, activity or other sources in this state.
SIXTH:Legislation to eliminate the tax credits for investment in a qualified West Virginia capital company pursuant to article one, chapter five-e of the Code of West Virginia and to eliminate the tax credits for investment in venture capital companies pursuant to article two, chapter five-e of the Code of West Virginia.
SEVENTH:Legislation to extend the deadline for receipt of tourism development project applications and to increase the total amount of tourism development project tax credits for all approved companies during each calendar year to five million dollars.
EIGHTH:Legislation to increase the nonresident withholding tax payable by a partnership, S corporation, estate or trust, under section seventy-one-a, article twenty-one, chapter eleven of the Code of West Virginia, to an amount equal to six and one-half percent of the effectively connected taxable income which may lawfully be taxed by this state and which is allocable to a nonresident partner, nonresident shareholder or nonresident beneficiary of a trust or estate.
NINTH:Legislation imposing a withholding tax equal to six and one-half percent of the estimated capital gain derived from the sale of any land, building or other real estate by a nonresident individual or part-year resident individual.
TENTH:Legislation to create a family tax credit for low- income taxpayers, applicable against up to one hundred percent of the personal income tax, that decreases in inverse proportion to taxpayers' modified federal adjusted gross income indexed against the federal poverty guidelines, as adjusted for family size.
ELEVENTH:Legislation authorizing an exemption from the consumers sales and service tax for purchases, by a person performing "contracting", of services, machinery, supplies or materials, except gasoline or special fuel, to be directly used or consumed in the construction, alteration, repair or improvement of a new or existing building or structure to be primarily used for manufacturing.
TWELFTH:Certain ceremonial and memorial resolutions.
Senators Foster, Oliverio and Harrison.
Delegates Stemple, Moore and Roberts, announced that the House of Delegates has assembled in extraordinary session, with a quorum present, and is ready to proceed with the business stated in the proclamation convening the Legislature.
Delegates Houston, Kominar and Leggett, announced that the Speaker had appointed them a committee of three to join with a similar committee on the part of the Senate to wait upon the Governor, under the provisions of Senate Resolution No. 202. Senate and House members of this select committee then proceeded to the executive offices.
The Clerk presented a communication from the Commission for the Deaf and Hard-of-Hearing, submitting its annual report, in accordance with chapter five, article fourteen, section nine of the code of West Virginia.
On motion of Senator Love, consideration of the nominations immediately hereinbefore reported was made a special order of business under unfinished business on tomorrow, Friday, November 10, 2006.
Senate Bill No. 2001--A Bill to amend and reenact §11-21-21 of the Code of West Virginia, 1931, as amended, relating to personal income tax; and increasing the amount of the senior citizens' and disabled persons' tax credit.
Senate Bill No. 2002--A Bill to amend and reenact §11-24-6 of the Code of West Virginia, 1931, as amended, relating to the elimination of the corporation net income tax adjustment for pre- 1967 gains on the sale of property.
Senate Bill No. 2003--A Bill to amend and reenact §11-15-3a of the Code of West Virginia, 1931, as amended, relating to consumers sales and service tax on sales, purchases and uses of food and food ingredients intended for human consumption; reducing rate of tax on sales, purchases and uses of food and food ingredients intended for human consumption to four percent of the sales price after the thirtieth day of June, two thousand seven; reducing the rate of tax on sales, purchases and uses of food and food ingredients intended for human consumption to three percent of the sales price after the thirtieth day of June, two thousand eight; and providing that the rate of tax on sales, purchases and uses of candy, prepared food, soft drinks and on sales of food through vending machines be six percent of the sales price after the thirtieth day of June, two thousand seven.
Senate Bill No. 2004--A Bill to amend and reenact §11-23-6 of the Code of West Virginia, 1931, as amended, relating to reducing the rate of business franchise tax.
Senate Bill No. 2005--A Bill to amend and reenact §11-24-4 of the Code of West Virginia, 1931, as amended, relating to reducing the rate of corporation net income tax.
Senate Bill No. 2006--A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §5E-1-23; and to amend said code by adding thereto a new section, designated §5E-2-5, all relating to capital companies and venture capital companies; terminating authorization for the tax credit for investment in capital companies made after the thirty- first day of December, two thousand six; and terminating authorization for the tax credit for investment in a venture capital company made after the thirty-first day of December, two thousand six.
Senate Bill No. 2007--A Bill to amend and reenact §5B-2E-5 and §5B-2E-11 of the Code of West Virginia, 1931, as amended, all relating to tourism development projects; increasing total amount of tourism development project tax credit available during calendar years; establishing a termination date for action on applications for tourism development projects; and validity of such projects not previously approved.
Senate Bill No. 2008--A Bill to amend and reenact §11-21-71a of the Code of West Virginia, 1931, as amended, relating to increasing the rate of personal income tax withholding for certain nonresidents of West Virginia.
Senate Bill No. 2009--A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-71b, relating to personal income tax; imposing a withholding tax on estimated capital gains derived from the sale of West Virginia land, buildings or other real estate by a nonresident individual or part-year resident individual; declaring the amount of tax withheld; providing for payment of the tax withheld; providing optional provisions for filing a tax return; establishing liability for withholding tax; establishing authority to promulgate legislative rules; and establishing effective date of section.
Senate Bill No. 2010--A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto four new sections, designated §11-21-22, §11-21-22a, §11-21-22b and §11-21-22c, all relating to personal income tax; enacting a low-income family tax credit; defining terms; providing amount of credit; and providing for administration of credit.
Senate Bill No. 2011--A Bill to amend and reenact §11-15-8d of the Code of West Virginia, 1931, as amended, relating to an exemption from consumers sales and service tax for purchases by a contractor when the purchased materials will be used or consumed in the construction, alteration, repair or improvement of a new or existing building or structure to be used primarily for manufacturing.
On motion of Senator Chafin, the Senate adjourned until tomorrow, Friday, November 10, 2006, at 3 p.m.