§11-13J-1. Short Title
This article shall be known as the "Neighborhood Investment Program Act".
§11-13J-10. Public Information Relating to Tax Credit
(a) The Tax Commissioner shall annually publish in the State Register the name of every taxpayer asserting this credit on a tax return, and the amount of any credit asserted on a tax return under this article by each such taxpayer, and the confidentiality provisions of 11-1-4a or 11-10-5d of this code, or of any […]
§11-13J-11. Audits and Examinations; Information Sharing
(a) The Tax Commissioner may, at his or her discretion, perform joint audits or examinations with the West Virginia Development Office or independently audit or examine the books, records and other information, as appropriate, of any taxpayer or of any person, organization or entity which has filed an application for certification of a project plan […]
§11-13J-12. Program Evaluation; Expiration of Credit; Preservation of Entitlement
Beginning on December 15, 2005, and every third year thereafter, the director shall secure an independent review of the Neighborhood Investment Program created by this article and present the findings to the Joint Committee on Government and Finance. Unless sooner terminated by law, the Neighborhood Investment Program Act terminates on July 1, 2026. There is […]
§11-13J-2. Legislative Finding and Purpose
It is the finding of the Legislature that community-based organizations can be a powerful force in community development. However, in West Virginia their effectiveness has historically been weakened by meager resources. Private corporations and individuals in West Virginia possess the resources to aid community-based organizations in their efforts to assist neighborhoods and communities. Due to […]
§11-13J-3. Definitions
(a) General. — When used in this article, or in the administration of this article, terms defined in subsection (b) of this section have the meanings ascribed to them by this section, unless a different meaning is clearly required by either the context in which the term is used, or by specific definition in this […]
§11-13J-4. Eligibility for Tax Credits; Creation of Neighborhood Investment Fund; Certification of Project Plans by the West Virginia Development Office
(a) A neighborhood organization which seeks to sponsor a project and have that project certified pursuant to this article shall submit to the Director of the West Virginia Development Office an application for certification of a project plan, in such form as the director shall prescribe, setting forth the project to be implemented, the identity […]
§11-13J-4a. Neighborhood Investment Program Advisory Board
(a) There is hereby created a Neighborhood Investment Program Advisory Board, which shall consist of 12 voting members and the chairperson. (b) Chairperson. (1) The Director of the West Virginia Development Office, or the designee of the Director of the West Virginia Development Office, shall be the ex officio chairperson of the Neighborhood Investment Program […]
§11-13J-5. Amount of Credit Allowed
(a) Credit allowed. — Eligible taxpayers shall be allowed a credit against taxes imposed by this state, the application of which and the amount of which shall be determined as provided in this article. (b) Amount of credit. — The amount of credit allowable is fifty percent of the amount of the taxpayer's "eligible contribution". […]
§11-13J-6. Application of Annual Credit Allowance
(a) In general. — The aggregate annual credit allowance for a current tax year is an amount equal to the sum of the following: (1) The portion allowed under section five of this article for an eligible contribution placed into service or use during a prior tax year; plus
§11-13J-7. Assertion of the Tax Credit Against Tax
(a) Any eligible taxpayer which desires to claim a tax credit as provided in this article shall file with the West Virginia Tax Commissioner, in such form as the Tax Commissioner may prescribe, an annual tax credit reporting schedule stating the amount of the eligible contribution which the taxpayer has made. The eligible taxpayer shall […]
§11-13J-8. Total Maximum Aggregate Tax Credit Amount
(a) The amount of tax credits allowed under this article may not exceed $3,000,000 in any state fiscal year. (b) Applications for project certification shall be filed with the West Virginia Development Office. The West Virginia Development Office shall record the date each application is filed. All complete and valid applications shall be considered for […]
§11-13J-9. Credit Recapture; Interest; Penalties; Additions to Tax; Statute of Limitations
If it appears upon audit or otherwise that an eligible taxpayer has not made contribution as represented, or should it appear that contributions made by an eligible taxpayer were made to the direct or indirect benefit of the eligible taxpayer making the contribution or to the direct or indirect benefit of any person related to […]