Legislators Send Northam Costly Coal Tax Credits For Elimination

Virginia lawmakers have eliminated the costly coal tax credits, which Southwest Virginia takes advantage of, after a critical report from a legislative watch dog agency. The agency found the tax credits, among the state’s largest, generated economic losses for the state and produced few jobs. Meanwhile, Tazewell Virginia Delegate Will Morefield is working with Senator Jeremy McPike to finalize legislation that would shift from a declining coal industry and attract data centers to the far corner of the Commonwealth. McPike, and Morefield want to allow data center companies that have qualified for the tax incentive to transfer it with them to the most economically distressed localities. If Northam signs the bills, the coal tax credits will end in January.