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Bill would create tax credits to develop post mining sites

MORGANTOWN— Legislation in the West Virginia Senate would, if passed, make it easier for businesses to set up shop on post-coal mining sites throughout the state.

Senate Bill 12 would create five-year tax credits for businesses locating on those sites. This would apply to any small business, corporation, limited liability company or unincorporated organization that moves its principal place of business to a post-mine site within West Virginia and employs a minimum of 10 workers that work at least 32 hours per week.

“For those tax years beginning on or after January 1, 2019, an eligible business entity will be allowed a tax credit in the amount of 50 percent of that entity’s capital expenditures at the post-coal-mine site for the first five taxable years during which the entity’s principal place of business is located on the post-coal-mine site within this state,” the bill reads.