§5B-2E-3. Definitions


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 B- 2 E- 3

§5B-2E-3. Definitions.

     As used in this article, unless the context clearly indicates

otherwise:

     (1) "Agreement" means a tourism development agreement entered

into, pursuant to section six of this article, between the

development office and an approved company with respect to a

project.

     (2) "Approved company" means any eligible company approved by

the development office pursuant to section five of this article

seeking to undertake a project.

     (3) "Approved costs" means:

     (a) Included costs:

     (i) Obligations incurred for labor and to vendors,

contractors, subcontractors, builders, suppliers, delivery persons

and material persons in connection with the acquisition,

construction, equipping or installation of a project;

     (ii) The costs of acquiring real property or rights in real

property and any costs incidental thereto;

     (iii) The cost of contract bonds and of insurance of all kinds

that may be required or necessary during the course of the

acquisition, construction, equipping, or installation of a project

which is not paid by the vendor, supplier, delivery person,

contractor or otherwise provided;

     (iv) All costs of architectural and engineering services, including, but not limited to: Estimates, plans and specifications,

preliminary investigations and supervision of construction,

installation, as well as for the performance of all the duties

required by or consequent to the acquisition, construction,

equipping or installation of a project;

     (v) All costs required to be paid under the terms of any

contract for the acquisition, construction, equipping or

installation of a project;

     (vi) All costs required for the installation of utilities,

including, but not limited to: Water, sewer, sewer treatment, gas,

electricity, communications and off-site construction of utility

extensions to the boundaries of the real estate on which the

facilities are located, all of which are to be used to improve the

economic situation of the approved company in a manner that allows

the approved company to attract persons; and

     (vii) All other costs comparable with those described in this

subdivision;

     (b) Excluded costs. -- The term "approved costs" does not

include any portion of the cost required to be paid for the

acquisition, construction, equipping or installation of a project

that is financed with governmental incentives, grants or bonds or

for which the eligible taxpayer elects to qualify for other tax

credits, including, but not limited to, those provided by article

thirteen-q, chapter eleven of this code. The exclusion of certain costs of a project under this paragraph (b) does not automatically

disqualify the remainder of the costs of the project.

     (4) "Base tax revenue amount" means the average monthly amount

of consumer sales and service tax collected by an approved company,

based on the twelve-month period ending immediately prior to the

opening of a new tourism development project for business or a

tourism development expansion project, as certified by the State

Tax Commissioner.

     (5) "Development office" means the West Virginia Development

Office as provided in article two of this chapter.

     (6) "Crafts and products center" means a facility primarily

devoted to the display, promotion and sale of West Virginia

products and at which a minimum of eighty percent of the sales

occurring at the facility are of West Virginia arts, crafts or

agricultural products.

     (7) "Eligible company" means any corporation, limited

liability company, partnership, limited liability partnership, sole

proprietorship, business trust, joint venture or any other entity

operating or intending to operate a project, whether owned or

leased, within the state that meets the standards required by the

development office. An eligible company may operate or intend to

operate directly or indirectly through a lessee.

     (8) "Ineligible company" means any West Virginia pari-mutuel

racing facility licensed to operate multiple video lottery machines as authorized by article twenty-two-a, chapter twenty-nine of this

code or any limited lottery retailer holding a valid license issued

under article seven, chapter sixty of this code.

     (9) "Entertainment destination center" means a facility

containing a minimum of two hundred thousand square feet of

building space adjacent or complementary to an existing tourism

attraction, an approved project, or a major convention facility and

which provides a variety of entertainment and leisure options that

contain at least one major theme restaurant and at least three

additional entertainment venues, including, but not limited to,

live entertainment, multiplex theaters, large-format theaters,

motion simulators, family entertainment centers, concert halls,

virtual reality or other interactive games, museums, exhibitions or

other cultural and leisure time activities. Entertainment and food

and drink options shall occupy a minimum of sixty percent of total

gross area, as defined in the application, available for lease and

other retail stores shall occupy no more than forty percent of the

total gross area available for lease.

     (10) "Final approval" means the action taken by the executive

director of the development office qualifying the eligible company

to receive the tax credits provided in this article.

     (11) "Project" means a tourism development project and/or a

tourism development expansion project administered in accordance

with the provisions of this article.

     (12) "Qualified professional services destination facility"

means a facility with a minimum qualified investment, as defined in

this article, of not less than $80 million physically located in

this state and adjacent or complementary to a historic resort

hotel, which primarily furnishes and provides personal or

professional services, or both types of services, to individuals

who primarily are residents of another state or foreign county.

     (13) "State agency" means any state administrative body,

agency, department, division, board, commission or institution

exercising any function of the state that is not a municipal

corporation or political subdivision.

     (14) "Tourism attraction" means a cultural or historical site,

a recreation or entertainment facility, an area of natural

phenomenon or scenic beauty, a West Virginia crafts and products

center, or an entertainment destination center or a qualified

professional services destination facility. A project or tourism

attraction does not include any of the following:

     (A) Lodging facility, unless:

     (i) The facility constitutes a portion of a project and

represents less than fifty percent of the total approved cost of

the project, or the facility is to be located on recreational

property owned or leased by the state or federal government and the

facility has received prior approval from the appropriate state or

federal agency;

     (ii) The facility involves the restoration or rehabilitation

of a structure that is listed individually in the national register

of historic places or is located in a national register historic

district and certified by the state historic preservation officer

as contributing to the historic significance of the district and

the rehabilitation or restoration project has been approved in

advance by the state historic preservation officer; or

     (iii) The facility involves the construction, reconstruction,

restoration, rehabilitation or upgrade of a full-service lodging

facility or the reconstruction, restoration, rehabilitation or

upgrade of an existing structure into a full-service lodging

facility having not less than five hundred guest rooms, with

construction, reconstruction, restoration, rehabilitation or

upgrade costs exceeding ten million dollars;

     (B) A facility that is primarily devoted to the retail sale of

goods, other than an entertainment destination center, a West

Virginia crafts and products center or a project where the sale of

goods is a secondary and subordinate component of the project; and

     (C) A recreational facility that does not serve as a likely

destination where individuals who are not residents of the state

would remain overnight in commercial lodging at or near the project

or existing attraction.

     (15) "Tourism development project" means the acquisition,

including the acquisition of real estate by a leasehold interest with a minimum term of ten years, construction and equipping of a

tourism attraction; the construction and installation of

improvements to facilities necessary or desirable for the

acquisition, construction, installation of a tourism attraction,

including, but not limited to, surveys, installation of utilities,

which may include water, sewer, sewage treatment, gas, electricity,

communications and similar facilities; and off-site construction of

utility extensions to the boundaries of the real estate on which

the facilities are located, all of which are to be used to improve

the economic situation of the approved company in a manner that

allows the approved company to attract persons, but does not

include a project that will be substantially owned, managed or

controlled by an eligible company with an existing project located

within a ten mile radius, or by a person or persons related by a

family relationship, including spouses, parents, children or

siblings, to an owner of an eligible company with an existing

project located within a ten mile radius.

     (16) "Tourism development expansion project" means the

acquisition, including the acquisition of real estate by a

leasehold interest with a minimum term of ten years; the

construction and installation of improvements to facilities

necessary or desirable for the expansion of an existing tourism

attraction including, but not limited to, surveys, installation of

utilities, which may include water, sewer, sewage treatment, gas, electricity, communications and similar facilities; and off-site

construction of utility extension to the boundaries of real estate

on which the facilities are located, all of which are to be used to

improve the economic situation of the approved company in a manner

that allows the approved company to attract persons.

     (17) "Tourism development project tax credit" means the

tourism development project tax credit allowed by section seven of

this article.

     (18) "Tourism development expansion project tax credit" means

the tourism development expansion project tax credit allowed by

section seven-a of this article.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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