West Virginia House Bill 4947

---

Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on January 19 2024 - 25% progression, died in committee
Action: 2024-01-31 - To House Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to create the "First Time Home Buyer Savings Account Act". The bill provides for definitions. The bill creates a first time home buyer savings account. The bill provides for subtractions from federal adjusted gross income. The bill provides limits applicable to subtraction from federal adjusted gross income. The bill provides penalties for withdrawal of funds. The bill requires financial institution to provide account holder information certificate. The bill requires the Tax Commissioner to propose rules to implement this article. Finally, the bill states years to which this act applies.

Creating the “First Time Home Buyer Savings Account Act”

Del. Trenton Barnhart [R]

Del. John Paul Hott [R]

Del. Steve Westfall [R]

Del. Josh Holstein [R]

Date	Chamber	Action
2024-01-31	House	To House Finance
2024-01-31	House	With amendment, do pass, but first to Finance
2024-01-19	House	To House Banking and Insurance
2024-01-19	House	Introduced in House
2024-01-19	House	To Banking and Insurance then Finance
2024-01-19	House	Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
31	18F	1	New Code	See Bill Text
31	18F	10	New Code	See Bill Text
31	18F	2	New Code	See Bill Text
31	18F	3	New Code	See Bill Text
31	18F	4	New Code	See Bill Text
31	18F	5	New Code	See Bill Text
31	18F	6	New Code	See Bill Text
31	18F	7	New Code	See Bill Text
31	18F	8	New Code	See Bill Text
31	18F	9	New Code	See Bill Text

Type	Source
Summary	http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4947&year=2024&sessiontype=RS&btype=bill
Text	http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb4947%20intr.htm&yr=2024&sesstype=RS&i=4947
Amendment	http://www.wvlegislature.gov/legisdocs/chamber/2024/RS/com_amends/hb4947%20h%20b_i%20am%20_1.htm
Supplement	http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=888137008