The “West Virginia Innovative Mine Safety Technology Tax Credit Act” established during the 2011 regular legislative session is now operative and a tax credit for qualifying, new mine safety technologies is available.
A copy of the application form, implementing rules and the list of qualifying mine safety technologies is available from WVCA. The list, published by the WV Office of Miners’ Health, Safety and Training, contains the following three (3) items qualifying for the credit at the current time: (1) MSHA approved Proximity Detectors; (2) TTE Mine Communications System; and, (3) PDM – Personal Dust Monitors.
The “West Virginia Innovative Mine Safety Technology Tax Credit Act” encourages new investment in mine safety technologies by providing for a credit against business franchise and corporate net taxes up to fifty percent (50%) of the investment cost for these qualifying technologies.
According to the Act, the Mine Safety Technology Task Force and Director of the WV Office of Miners’ Health, Safety & Training shall develop a list of approved innovative mine safety technologies which qualify for the tax credit. Safety technologies presently required by state or federal law are ineligible under the Act.