To create a tax incentive to landlords who allow a first time or second chance housing of houseless individuals, justice impacted persons, assault victims, veterans, and adults who age out of the foster care system.
Impact
If enacted, HB 2966 would have a significant impact on state laws regarding personal income tax and housing support initiatives. The introduction of a tax incentive could increase the availability of rental properties for marginalized groups, potentially reducing homelessness and stabilizing the lives of individuals facing crises. By incentivizing landlords to take on the financial risks associated with renting to these populations, the legislation could foster a more inclusive housing market.
Summary
House Bill 2966 aims to amend the Code of West Virginia by establishing a tax credit for landlords who provide housing opportunities to vulnerable populations, including houseless individuals, those impacted by the justice system, assault victims, veterans, and adults aging out of the foster care system. The proposed legislation offers a 15% tax credit against personal income tax for landlords who can provide proof of renting to individuals from these specified groups. This initiative seeks to encourage property owners to assist those in need of a second chance at stable housing.
Sentiment
Overall, the sentiment around HB 2966 appears to be supportive, with many recognizing the need for increased housing opportunities for vulnerable citizens. Advocates for social welfare and housing equity generally see the bill as a positive step toward addressing systemic issues related to homelessness and injustice. However, there may be contingent concerns from some landlords or financial interests regarding the sustainability and efficacy of the tax credit mechanism.
Contention
While the bill enjoys general support, contentious issues may arise regarding its implementation and the effectiveness of tax credits as a tool for social change. Critics may challenge whether financial incentives alone can adequately address the complex socio-economic factors contributing to homelessness and whether landlords will be willing to participate. Aspects of the bill regarding rule-making authority for the Department of Revenue could also spark debate about regulatory impacts and oversight related to the application of these tax incentives.
Establishes "Support for Victims of Domestic Violence Program"; incentivizes certain businesses to provide support to individuals who are victims of domestic violence.
Establishes "Support for Victims of Domestic Violence Program"; incentivizes certain businesses to provide support to individuals who are victims of domestic violence.