7-11B-1 Short title
7-11B-2 Findings and legislative purpose
7-11B-3 Definitions
7-11B-4 Powers generally
7-11B-5 Powers supplemental
7-11B-6 Application for development or redevelopment plan
7-11B-7 Creation of a development or redevelopment area or district
7-11B-8 Project plan — approval
7-11B-9 Project plan – amendment
7-11B-10 Termination of development or redevelopment district
7-11B-11 Costs of formation of development or redevelopment district
7-11B-12 Overlapping districts prohibited,
7-11B-13 Conflicts of interest; required disclosures and abstention
7-11B-14 Projects financed by tax increment financing considered to be public improvements subject to prevailing wage, local labor preference and competitive bid requirements
7-11B-15 Reports by county commissions and municipalities, contents, and publication; procedure to determine progress of project; reports by Development Office, content of reports; rule-making authority; Development Office to provide manual and assistance
7-11B-16 Valuation of real property
7-11B-17 Division of ad valorem real property tax revenue
7-11B-18 Payments in lieu of taxes and other revenues
7-11B-19 Tax increment obligations generally
7-11B-20 Tax increment financing obligations — authority to issue
7-11B-21 Tax increment financing obligations — authorizing order or ordinance
7-11B-22 Tax increment financing obligations — terms, conditions
7-11B-23 Tax increment financing obligations — security — marketability
7-11B-24 Tax increment financing obligations — special fund for repayment
7-11B-25 Tax increment financing obligations – Tax exemption
7-11B-26 Excess funds
7-11B-27 Computation of local share for support of public schools when tax increment financing is used
7-11B-28 Effective date
7-11B-29 Joint development or redevelopment districts
7-11B-30 Application by Division of Highways

Terms Used In West Virginia Code > Chapter 7 > Article 11B - West Virginia Tax Increment Financing Act

  • Agency: includes a municipality, a county or municipal development agency established pursuant to authority granted in §. See West Virginia Code 7-11B-3
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Base assessed value: means the taxable assessed value of all real and tangible personal property, excluding personal motor vehicles, having a tax situs within a development or redevelopment district as shown upon the landbooks and personal property books of the assessor on July 1 of the calendar year preceding the effective date of the order or ordinance creating and establishing the development or redevelopment district: Provided, That for any development or redevelopment district approved after the effective date of the amendments to this section enacted during the regular session of the Legislature in 2014, personal trailers, personal boats, personal campers, personal motor homes, personal ATVs and personal motorcycles having a tax situs within a development or redevelopment district are excluded from the base assessed value. See West Virginia Code 7-11B-3
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Blighted area: includes any area which, by reason of the presence of a substantial number of substandard, slum, deteriorated or deteriorating structures, predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility or usefulness, unsanitary or unsafe conditions, deterioration of site or other improvements, diversity of ownership, defective or unusual conditions of title or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, substantially impairs or arrests the sound growth of a municipality, retards the provision of housing accommodations or constitutes an economic or social liability and is a menace to the public health, safety, morals or welfare in its present condition and use, or any area which is predominantly open and which because of lack of accessibility, obsolete platting, diversity of ownership, deterioration of structures or of site improvements, or otherwise, substantially impairs or arrests the sound growth of the community. See West Virginia Code 7-11B-3
  • Child: means an individual, whether over or under the age of majority, who is or is alleged to be owed a duty of support by the individual'. See West Virginia Code 48-16-102
  • Child support order: means a support order for a child, including a child who has attained the age of majority under the law of the issuing state or foreign country. See West Virginia Code 48-16-102
  • Commissioner of Highways: means the Commissioner of the Division of Highways. See West Virginia Code 7-11B-3
  • Conservation area: means any improved area within the boundaries of a development or redevelopment district located within the territorial limits of a municipality or county in which fifty percent or more of the structures in the area have an age of thirty-five years or more. See West Virginia Code 7-11B-3
  • Contract: A legal written agreement that becomes binding when signed.
  • Convention: means the Convention on the International Recovery of Child Support and Other Forms of Family Maintenance, concluded at The Hague on November 23, 2007. See West Virginia Code 48-16-102
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County commission: means the governing body of a county of this state and, for purposes of this article only, includes the governing body of a Class I, Class II or Class III municipality in this state. See West Virginia Code 7-11B-3
  • Current assessed value: means the annual taxable assessed value of all real and tangible personal property, excluding personal motor vehicles, having a tax situs within a development or redevelopment district as shown upon the landbook and personal property records of the assessor: Provided, That for any development or redevelopment district approved after the effective date of the amendments to this section enacted during the regular session of the Legislature in 2014, personal trailers, personal boats, personal campers, personal motor homes, personal ATVs and personal motorcycles having a tax situs within a development or redevelopment district are excluded from the current assessed value. See West Virginia Code 7-11B-3
  • Decedent: A deceased person.
  • Development office: means the West Virginia Department of Economic Development created in §. See West Virginia Code 7-11B-3
  • Development or redevelopment district: means an area proposed by one or more agencies as a development or redevelopment district which may include one or more counties, one or more municipalities or any combination thereof, that has been approved by the county commission of each county in which the project area is located if the project is located outside the corporate limits of a municipality, or by the governing body of a municipality if the project area is located within a municipality, or by both the county commission and the governing body of the municipality when the development or redevelopment district is located both within and without a municipality. See West Virginia Code 7-11B-3
  • Division of Highways: means the state Department of Transportation, Division of Highways. See West Virginia Code 7-11B-3
  • Duty of support: means an obligation imposed or imposable by law to provide support for a child, spouse or former spouse, including an unsatisfied obligation to provide support. See West Virginia Code 48-16-102
  • Economic development area: means any area or portion of an area within the boundaries of a development or redevelopment district located within the territorial limits of a municipality or county that is neither a blighted area nor a conservation area and for which the county commission finds that development or redevelopment will not be solely used for development of commercial businesses that will unfairly compete in the local economy and that development or redevelopment is in the public interest because it will:

    (A) Discourage commerce, industry or manufacturing from moving their operations to another state. See West Virginia Code 7-11B-3

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign country: means a country, including a political subdivision thereof, other than the United States, that authorizes the issuance of support orders and:

    (A) Which has been declared under the law of the United States to be a foreign reciprocating country. See West Virginia Code 48-16-102

  • Foreign support order: means a support order of a foreign tribunal. See West Virginia Code 48-16-102
  • Foreign tribunal: means a court, administrative agency or quasi-judicial entity of a foreign country which is authorized to establish, enforce or modify support orders or to determine parentage of a child. See West Virginia Code 48-16-102
  • Governing body of a municipality: means the city council of a Class I, Class II or Class III municipality in this state. See West Virginia Code 7-11B-3
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Home state: means the state or foreign country in which a child lived with a parent or a person acting as parent for at least six consecutive months immediately preceding the time of filing of a petition or comparable pleading for support and, if a child is less than six months old, the state or foreign country in which the child lived from birth with any of them. See West Virginia Code 48-16-102
  • including: when used in a definition contained in this article, shall not exclude other things otherwise within the meaning of the term being defined. See West Virginia Code 7-11B-3
  • Income: includes earnings or other periodic entitlements to money from any source and any other property subject to withholding for support under the law of this state. See West Virginia Code 48-16-102
  • Initiating tribunal: means the tribunal of a state or foreign country from which a petition or comparable pleading is forwarded or in which a petition or comparable pleading is filed for forwarding to another state or foreign country. See West Virginia Code 48-16-102
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Intergovernmental agreement: means any written agreement that may be entered into by and between two or more county commissions, or between two or more municipalities, or between a county commission and a municipality, in the singular and the plural, or between two or more government entities and the Commissioner of Highways: Provided, That any intergovernmental agreement shall not be subject to provisions governing intergovernmental agreements set forth in other provisions of this code, including, but not limited to, §. See West Virginia Code 7-11B-3
  • Issuing state: means the state in which a tribunal issues a support order or a judgment determining parentage of a child. See West Virginia Code 48-16-102
  • Issuing tribunal: means the tribunal of a state or foreign country that issues a support order or a judgment determining parentage of a child. See West Virginia Code 48-16-102
  • Judgment: includes decrees and orders for the payment of money, or the conveyance or delivery of land or personal property, or some interest therein, or any undertaking, bond or recognizance which has the legal effect of a judgment. See West Virginia Code 2-2-10
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Law: includes decisional and statutory law and rules and regulations having the force of law. See West Virginia Code 48-16-102
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligee: means :

    (A) An individual to whom a duty of support is or is alleged to be owed or in whose favor a support order or a judgment determining parentage of a child has been issued. See West Virginia Code 48-16-102

  • Obligor: means an individual or the estate of a decedent that:

    (A) Owes or is alleged to owe a duty of support. See West Virginia Code 48-16-102

  • Order: means an order of the county commission adopted in conformity with the provisions of this article and as provided in this chapter. See West Virginia Code 7-11B-3
  • Ordinance: means a law adopted by the governing body of a municipality in conformity with the provisions of this article and as provided in §. See West Virginia Code 7-11B-3
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Payment in lieu of taxes: means a payment with respect to real and personal property located in a development or redevelopment district and owned in title by this state, a political subdivision of this state or an agency or instrumentality thereof, that is made by the lessee of such property pursuant to a written payment in lieu of taxes agreement, whether in effect as of, or subsequent to, the date of creation of the development or redevelopment district. See West Virginia Code 7-11B-3
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity. See West Virginia Code 48-16-102
  • Person: means any natural person, and any corporation, association, partnership, limited partnership, limited liability company or other entity, regardless of its form, structure or nature, other than a government agency or instrumentality. See West Virginia Code 7-11B-3
  • Personal property: All property that is not real property.
  • personal property: includes goods, chattels, real and personal, money, credits, investments, and the evidences thereof. See West Virginia Code 2-2-10
  • Project: means any capital improvement, facility or both, as specifically set forth and defined in the project plan, requiring an investment of capital including, but not limited to, extensions, additions or improvements to existing facilities, including water or wastewater facilities, and the remediation of contaminated property as provided for in §. See West Virginia Code 7-11B-3
  • Project area: means an area within the boundaries of a development or redevelopment district in which a development or redevelopment project is undertaken as specifically set forth and defined in the project plan. See West Virginia Code 7-11B-3
  • Project costs: include , but are not limited to:

    (A) Capital costs, including, but not limited to, the actual costs of the construction of public works or improvements, capital improvements and facilities, new buildings, structures and fixtures, the demolition, alteration, remodeling, repair or reconstruction of existing buildings, structures and fixtures, environmental remediation, parking and landscaping, the acquisition of equipment and site clearing, grading and preparation. See West Virginia Code 7-11B-3

  • Project developer: means any person who engages in the development of projects in the state. See West Virginia Code 7-11B-3
  • Project plan: means the plan for a development or redevelopment project that is adopted by a county commission or governing body of a municipality in conformity with the requirements of this article and this chapter or §. See West Virginia Code 7-11B-3
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Real property: means all lands, including improvements and fixtures on them and property of any nature appurtenant to them or used in connection with them and every estate, interest and right, legal or equitable, in them, including terms of years and liens by way of judgment, mortgage or otherwise, and indebtedness secured by the liens. See West Virginia Code 7-11B-3
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See West Virginia Code 48-16-102
  • Redevelopment area: means an area designated by a county commission or the governing body of a municipality in respect to which the commission or governing body has made a finding that there exist conditions which cause the area to be classified as a blighted area, a conservation area, an economic development area or a combination thereof, which area includes only those parcels of real property directly and substantially benefitted by the proposed redevelopment project located within the development or redevelopment district or land contiguous thereto. See West Virginia Code 7-11B-3
  • Redevelopment plan: means the comprehensive program under this article of a county or municipality for redevelopment intended by the payment of redevelopment costs to reduce or eliminate those conditions, the existence of which qualified the redevelopment area as a blighted area, conservation area, economic development area or combination thereof, and to thereby enhance the tax bases of the levying bodies which extend into the redevelopment area. See West Virginia Code 7-11B-3
  • redevelopment project: means a project undertaken in a development or redevelopment district for eliminating or preventing the development or spread of slums or deteriorated, deteriorating or blighted areas, for discouraging the loss of commerce, industry or employment, for increasing employment or for any combination thereof in accordance with a tax increment financing plan. See West Virginia Code 7-11B-3
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Responding state: means a state in which a petition or comparable pleading for support or to determine parentage of a child is filed or to which a petition or comparable pleading is forwarded for filing from another state or a foreign country. See West Virginia Code 48-16-102
  • Responding tribunal: means the authorized tribunal in a responding state or foreign country. See West Virginia Code 48-16-102
  • State: means a state of the United States, or the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See West Virginia Code 48-14-601
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See West Virginia Code 48-16-102
  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
  • Subpoena: A command to a witness to appear and give testimony.
  • Support enforcement agency: means a public official or governmental entity, or private agency authorized to:

    (A) Seek enforcement of support orders or laws relating to the duty of support. See West Virginia Code 48-16-102

  • Support order: means a judgment, decree, order, decision or directive, whether temporary, final or subject to modification, issued in a state or foreign country for the benefit of a child, a spouse or a former spouse which provides for monetary support, health care, arrearages, retroactive support or reimbursement for financial assistance provided to an individual obligee in place of child support. See West Virginia Code 48-16-102
  • Tax increment: means the amount of regular levy property taxes attributable to the amount by which the current assessed value of real and tangible personal property having a tax situs in a development or redevelopment district exceeds the base assessed value of the property. See West Virginia Code 7-11B-3
  • Tax increment financing fund: means a separate fund for a development or redevelopment district established by the county commission or governing body of the municipality into which all tax increment revenues and other pledged revenues are deposited and from which projected project costs, debt service and other expenditures authorized by this article are paid. See West Virginia Code 7-11B-3
  • tax increment financing obligations: means bonds, loans, debentures, notes, special certificates or other evidences of indebtedness issued by a county commission or municipality pursuant to this article to carry out a development or redevelopment project or to refund outstanding obligations under this article. See West Virginia Code 7-11B-3
  • This code: means the Code of West Virginia, 1931, as amended by the Legislature. See West Virginia Code 7-11B-3
  • Tribunal: means a court, administrative agency or quasi-judicial entity authorized to establish, enforce or modify support orders or to determine parentage of a child. See West Virginia Code 48-16-102
  • Trustee: A person or institution holding and administering property in trust.