CHARLESTON, WV (LOOTPRESS) — Members of the House of Delegates are eager to welcome manufacturers to West Virginia with the relief measures included in House Bill 2499, which completed legislative action April 1.
House Speaker Pro Tempore Delegate Gary Howell, R-Mineral, was the lead sponsor of the bill, and he said his district is already the proud home of Northrop Grumman, but if this bill becomes law, it would make the defense company’s Mineral County plant the single best place in the nation to expand its ammunitions manufacturing operation.
The measure, which now goes to Gov. Jim Justice for action, has four narrow and targeted tax reductions aimed at making West Virginia the easy choice for future investment and job creation.
“We want to do everything we can to encourage manufacturing in our state, especially small arms and ammunition manufacturing,” said House Speaker Roger Hanshaw, R-Clay, a co-sponsor of the bill. “An overwhelming majority of the members of the House of Delegates approved this bill, and it passed the Senate unanimously, which speaks to the economic possibilities we’re now welcoming to West Virginia through this bill.”
House Bill 2499 would implement property tax relief for firearms and ammunition manufacturers and would allow a slightly higher manufacturing investment tax credit for those types of manufacturers as well as creating a tax credit for federal excise tax imposed on small arms and ammunition and exempt sales of certain defined small arms and small arms ammunition from state sales and use taxes.
“I campaigned on supporting the Second Amendment and business — this bill does both,” said Delegate Chuck Horst, R-Berkeley. “I was proud to sponsor this legislation.”
While the Legislature is in session, the governor has five days to approve or veto a bill he or she receives. If the governor does not act within the time limits, bills automatically become law without his or her signature. The regular legislative session ends at midnight Saturday, April 10. As of April 1, a total of 85 bills have completed the legislative process.
