Committee clears two-year extension of mine safety tech tax credit

Charleston — The Senate Finance Committee voted to report Senate Bill 622 to the full Senate with a recommendation that it pass, extending the sunset date of the innovative mine safety technology tax credit to Dec. 31, 2028.

Counsel summarized the measure as a straightforward extension of the existing credit, which is currently set to sunset on Dec. 31 of this year. "The purpose of the bill is to extend the innovative mine safety technology tax credit by 2 years," counsel said during the committee explanation.

The vice chairman moved that the bill be reported to the full Senate with a recommendation that it pass. The committee approved the motion by voice vote and the chair declared the ayes had it.

The measure will proceed to the full Senate for further consideration.