The West Virginia Senate Economic Development Committee convened on March 25, 2025, to discuss key amendments to Senate Bill 834, focusing on tax credits for rehabilitated buildings. The primary aim of the amendment is to clarify that tax credits will only be available once a rehabilitated building is officially placed into service, rather than at the time of application or transfer.

During the meeting, committee members sought clarification on the implications of the amendment. Counsel confirmed that the changes do not introduce new tax credits but rather refine existing regulations to ensure clarity regarding the timing of credit availability. This adjustment aims to eliminate confusion about when the applicable tax year for credits is assigned.

Senators also discussed the oversight role of the National Park Service in approving projects related to the bill, with members noting that only a few parks in West Virginia fall under its jurisdiction, such as Harpers Ferry and the New River Gorge area.

After thorough discussion, the committee unanimously agreed to the substitute for Senate Bill 834. The bill will now be reported to the full Senate with a recommendation for passage, while also being referred to the finance committee for further review.

The meeting concluded without additional business, but there was mention of potentially seeking a waiver for the second reference to finance, emphasizing that the amendment does not alter the requirements for historic tax credits and should not have a fiscal impact.