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CHARLESTON, W.Va. (AP) — West Virginia’s Senate passed a bill Monday that would give $25,000 in tax credits to former residents who move back to the state to work.
The Senate passed the bill unanimously and sent it to the House of Delegates.
Those eligible for the tax credit had to live and work in West Virginia for at least 10 years or were born in the state. They had to live outside of the state for at least 10 consecutive years prior to 2023.
Unused portions of the credit could be applied to future tax years. The credit would expire in 2029.
State officials have tried other cash enticements in the past few years to try to beef up West Virginia’s sagging population. The Department of Tourism is offering $12,000 cash plus free passes for a host of outdoor adventures to remote workers to move to certain areas of the state.
West Virginia lost a greater percentage of its residents than any other state from 2010 to 2020, when the population dropped 3.2% or about 59,000 people. It’s been such a problem due to long-term declines in the coal, steel, and other industries that West Virginia is now the only state with fewer residents than it had in 1950.
by: The Associated Press
Posted: Feb 27, 2023 / 03:52 PM EST
Updated: Feb 27, 2023 / 03:58 PM EST
Copyright 2023 Nexstar Media Inc. All rights reserved.
CHARLESTON, W.Va. (AP) — West Virginia’s Senate passed a bill Monday that would give $25,000 in tax credits to former residents who move back to the state to work.
The Senate passed the bill unanimously and sent it to the House of Delegates.
Those eligible for the tax credit had to live and work in West Virginia for at least 10 years or were born in the state. They had to live outside of the state for at least 10 consecutive years prior to 2023.
Unused portions of the credit could be applied to future tax years. The credit would expire in 2029.
State officials have tried other cash enticements in the past few years to try to beef up West Virginia’s sagging population. The Department of Tourism is offering $12,000 cash plus free passes for a host of outdoor adventures to remote workers to move to certain areas of the state.
West Virginia lost a greater percentage of its residents than any other state from 2010 to 2020, when the population dropped 3.2% or about 59,000 people. It’s been such a problem due to long-term declines in the coal, steel, and other industries that West Virginia is now the only state with fewer residents than it had in 1950.
by: The Associated Press
Posted: Feb 27, 2023 / 03:52 PM EST
Updated: Feb 27, 2023 / 03:58 PM EST
Copyright 2023 Nexstar Media Inc. All rights reserved.
I like this, but that’s a lot of exemptions. This will unintentionally exclude young people (under 30) since they haven‘t even been in the workforce for 10 years, let alone been away from the state for 10 years. I would like to see a bigger push to make sure they’re included.
I like this, but that’s a lot of exemptions. This will unintentionally exclude young people (under 30) since they haven‘t even been in the workforce for 10 years, let alone been away from the state for 10 years. I would like to see a bigger push to make sure they’re included.
"The Senate passed the bill unanimously and sent it to the House of Delegates.
Those eligible for the tax credit had to live and work in West Virginia for at least 10 years or were born in the state. They had to live outside of the state for at least 10 consecutive years prior to 2023."
I don't think you thought this through carefully. According to the paragraph quoted, a person could have been born in WV, then moved away before they were a year old. Then they could have moved back to WV at about age 11. If they did these two things, they would qualify for the tax credits at about 11 years of age.
Of course, this is an extreme example, but even less extreme examples would easily qualify if they were born in WV and moved away from WV as a young child and then moved back 10+ years later. For example, a person could have been born in WV and lived in the state until age 8, then moved away for 10 years and moved back to WV at age 18+ and qualify for the $25,000 tax credit.
Lol, what about people born within a mile of the WV border? Can we get the tax credit if we swim over and establish residency?
Good comments about the weirdness of the wording, but I think those rare cases will be just that, rare. 11 year olds don't own property and pay taxes the same way adults do.......at least I don't think they do.
In general bringing back population would more than offset the loss of tax dollars and would be well targeted specifically at people in neighboring states who were born in WV but currently live in PA, OH, MD, etc and have a choice of where they want to commute/telework from.
"The Senate passed the bill unanimously and sent it to the House of Delegates.
Those eligible for the tax credit had to live and work in West Virginia for at least 10 years or were born in the state. They had to live outside of the state for at least 10 consecutive years prior to 2023."
I don't think you thought this through carefully. According to the paragraph quoted, a person could have been born in WV, then moved away before they were a year old. Then they could have moved back to WV at about age 11. If they did these two things, they would qualify for the tax credits at about 11 years of age.
Of course, this is an extreme example, but even less extreme examples would easily qualify if they were born in WV and moved away from WV as a young child and then moved back 10+ years later. For example, a person could have been born in WV and lived in the state until age 8, then moved away for 10 years and moved back to WV at age 18+ and qualify for the $25,000 tax credit.
Got it, thank you for clarifying. I still think it’s too many qualifiers.
Maybe the state's politicians could act like it wasn't still 1956 to draw people to the state.
West Virginia has higher net domestic migration than PA, OH, VA, and MD. Pennsylvania, Ohio, and Maryland also experienced population decline recently.
WV's decline is mostly based on a high death rate as a result of a very aged population. The birth rate isn't terribly low. The other thing, is the state has the lowest international migration in the nation. I'm not sure how that can be improved, but bringing in educated international migrants would be beneficial.
People are definitely flocking to West Virginia, and it's not just to Morgantown, Bridgeport, the EP, and Charleston suburbs.
I cannot believe I am saying this, but I am strongly against WV lowering taxes. The state needs to act aggressively in modernizing infrastructure and improving education, specifically in the state's largest cities. There should be a 4-lane state highway connecting the state's largest metro areas, which enhances the values of rural areas far in between. In terms of legislation, I think the state does a great job in addressing many issues, so much as I often brag about policies WV has recently passed to my unfortunate Pittsburgh coworkers.
While the state technically has the strongest job market in the nation, economic development is an extreme must, especially of high-paying jobs in the technology, engineering, and manufacturing sectors. Tourism (other than outdoors) should also be a focus. There is a strong need for a state-of-the-art zoo and aquarium, along with many museums highlighting history, science, and art. Charleston needs to grow as a hub for healthcare, tourism, and commerce. Charleston probably has the greatest potential in all of WV to absolutely boom with economic development and out-of-state residents. I think major investments into Marshall University with efforts to heavily increase out-of-state enrollment would carry over to create high-paying jobs desiring an educated workforce for the entire Charleston-Huntington region.
So recap, the state is doing decent, however lowering taxes is a huge NO, the state is far behind in infrastructure, education, and needs to work aggressively on economic development. The state should specifically focus on it's largest cities/metros, and expand access to those cities through the creation and expansion of 4-lane zonable highways to better connect rural areas to places of commerce, healthcare, and leisure.
WV expects a $1.8 Billion budget surplus this year. I would much rather the state use that money for tourism, education, job creation, and infrastructure - with a major emphasis on job creation and infrastructure, leading to more revenue to improve education and tourism (not outdoors). Maybe even switch it up, I would be more than happy if the state acted so aggressive as to use the entire $1.8 Billion for economic development, and use any revenue increase from the following fiscal year for infrastructure, followed by education and tourism. I cannot even imagine the major long-term impact if the state spent nearly $2 Billion on job creation that would bring in increased revenue far into the future. Theoretically, $1.8B as part of incentives could create over 7000 well-paying jobs in just a 12-month timespan and result in over 21,000 new residents. By year two, that's 14,000. Lots of other factors, but that methodology is currently doing really good for Michigan's SOAR, which is $500M annually.
I don't necessarily think "spending more on education" is the answer to WV's education problems, as the state actually spends quite a bit on schooling, and college is very cheap. It's probably more of a culture-issue resulting in far-rural coal dominated areas not having a link between education and well-paying careers. If all of the state's schools performed like Monongalia, Kanawha, and Berkeley, I guarantee WV would be in the top 5 in the nation for education.
Last edited by Archer705; 03-01-2023 at 08:59 PM..
^This. It’s been (another) embarrassing and disappointing legislative session this year.
The GOP has been a disaster for this state. They govern like it’s the Stone Age. You aren’t going to add by dividing people or subtracting rights. Everybody’s money spends the same. And West Virginia isn’t the only state with this problem. Once the culture wars get stoked and books get banned in school that casts a dark cloud over your state and makes it undesirable. Hence the difference between a state like ours and VT or NH that have a similar demographic.
^This. It’s been (another) embarrassing and disappointing legislative session this year.
Not exactly sure what this means. Details?
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