§5B-2L-1. Short Title
5B-2L-1. Short title. This article shall be known as the BUILD WV Act.
§5B-2L-2. Legislative Findings and Purpose
(a) The Legislature hereby finds that reasonably priced residential housing for graduate, post-graduate and professional job holders, technical workers, and entrepreneurs for targeted businesses in key geographical regions of this state is an essential component of West Virginias comprehensive economic development. Highly meritorious measures have been undertaken under both federal law and state law for […]
§5B-2L-3. Definitions
(a) General. When used in this article, or in the administration of this article, terms defined in this section have the meanings ascribed to them by this section unless a different meaning is clearly required by the context in which the term is used. (b) Terms defined. As used in this article, unless the context […]
§5B-2L-4. Rule-Making
(a) In order to effectuate the purposes of this article, the Tax Commissioner may promulgate procedural rules, interpretive rules and legislative rules, including emergency rules, or any combination thereof in accordance with 29A-3-1 et seq. of this code. (b) In order to effectuate the purposes of this article, the Department of Economic Development or any […]
§5B-2L-5. Application of the West Virginia Tax Procedure and Administration Act and West Virginia Tax Crimes and Penalties Act
The provisions of this article are subject to the West Virginia Tax Procedure and Administration Act, set forth in 11-10-1 et seq. of this code, and the West Virginia Tax Crimes and Penalties Act, set forth in 11-9-1 et seq. of this code, as if the provisions thereof were set forth in extenso in this […]
§5B-2L-6. Effective Date, Expiration Date and Required Reporting
(a) Effective July 1, 2024, and annually thereafter, the Department of Economic Development shall submit a report to the Joint Committee on Government and Finance. The report shall provide: (1) The number and location of all projects approved pursuant to this article;
§5B-2L-7. Consumers Sales and Service Tax and Use Tax Exemption for Construction Contractors
5B-2L-7. Consumers sales and service tax and use tax exemption for construction contractors. (a) Notwithstanding the provisions of 11-15-1 et seq., 11-15A-1 et seq., and 11-15-8d of this code or any other provision of this code, purchases of building materials, tangible personal property, and services by a construction contractor or construction subcontractor directly used in […]
§5B-2L-8. Municipal Authority to Exempt Business and Occupation Tax
5B-2L-8. Municipal authority to exempt business and occupation tax. Notwithstanding any other provision of this code, a municipality that imposes the municipal business and occupation tax pursuant to the provisions of 8-13-5 of this code, may authorize by ordinance, a municipal business and occupation tax exemption for gross income from rents, royalties, fees, or other […]
§5B-2K-5. Facilitation of Grant Submissions by Higher Education Institutions
To maximize the resources of the state and to create a resource for entities and persons interested in applying for grants that need assistance with grant proposal and applications, the commission shall coordinate and administer a specialized subcommittee of the commission made up of representatives of West Virginia University, Marshall University, the Alliance for Economic […]
§5B-2K-6. Report to the Legislature
The commission shall provide by December first of each year to the Joint Committee on Government and Finance an annual electronic report that provides the following: (1) A summary of grant assistance applications received and relevant statistics relating to actions taken by the commission and grants awarded;