CRACKER BILL PASSES Senate Sends Bill Cutting Property Taxes To Governor
Reported by: Kennie Bass
Videographer: John Tincher, Matt Durrett
Web Producer: Kennie Bass
Reported: Jan. 25, 2012 6:06 PM EST
Updated: Jan. 25, 2012 6:12 PM EST
EYEWITNESS ONLINE WEBCAST VIDEO C L I C K T O P L A Y
, Kanawha County
, West Virginia
Following the lead of the House of Delegates, state senators suspended constitutional rules requiring three days before a bill can be passed...and unanimously approved a measure offering a 25-year tax break designed to attract a huge new chemical plant.
The bill will slash property taxes for any company investing at least two billion dollars to build a cracker plant. West Virginia is competing with Ohio and Pennsylvania for the facilities, which convert a byproduct from Marcellus shale wells into a widely used chemical compound.
It's estimated the bill would reduce taxes for companies funding a cracker plant by nearly 30 million dollars in the first year.
Governor Earl Ray Tomblin is heading to Houston on Thursday, January 26th, to promote West Virginia as a cracker plant site.
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