West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-13FF - Tax Credit For Providing Vehicles To low-Income Workers
Section 110-13FF-2 - Definitions

2.2.1. "Automobile dealership," "dealer," or "motor vehicle dealer" means a purveyor of new or used passenger vehicles licensed under the provisions of W. Va. Code § 17A-6-1, et seq.

2.2.2. "Below-market loan" means a loan issued by a cooperating financial institution to a low-income worker for the purchase of a vehicle, which rate shall be substantially the same as that offered to prime borrowers, lower than the current prevailing state average rate for similar transactions, taking into consideration the credit worthiness of the borrower and the suitability of the vehicle, as determined by a qualified charitable organization, and may not include any origination fee, points, investigation fees, or other similar finance charges requiring prepayment by the purchaser.

2.2.3. "Commissioner" means the Tax Commissioner of the State of West Virginia.

2.2.4. "Consideration" means cash, goods or services given in exchange for tangible personal property.

2.2.5. "Cooperating financial institution" means a bank, West Virginia state chartered bank, West Virginia national bank, bank holding company, federal savings bank, federal savings and loan association, West Virginia state credit union, West Virginia federal credit union, Community Development Financial Institution funded through the Riegle Community Development and Regulatory Improvement Act of 1994, or any supervised lending institution operating under a certificate of authority issued by the West Virginia Board of Banking and Financial Institutions that enters into an agreement with a qualified charitable organization to provide below-market loans to low-income workers to enable them to purchase affordable vehicles suitable for commuting to their employment, but shall not include the financing department of an automobile dealership or manufacturer.

2.2.6. "Division" means the Tax Division of the West Virginia Department of Revenue.

2.2.7. "Federal poverty level" means the amount in the U.S. Federal Poverty Guidelines Used to Determine Financial Eligibility for Certain Federal Programs, issued each year in the Federal Register by the Department of Health and Human Services (HHS).

2.2.8. "Low-income worker" means a person engaging in any gainful income generating activity whose aggregate household income is 200 percent or less of the federal poverty level. For purposes of this rule, "low-income worker" may also include part-time workers, seasonal employees, contract workers, persons who are self-employed, or an unemployed person who has been offered and has accepted employment contingent on that person's obtaining suitable transportation to the place of employment.

2.2.9. "Program" means a systematic procedure administered by a qualified charitable organization for assisting low-income workers in obtaining suitable vehicles for use as transportation to a place of employment, either by providing them with a donated vehicle, or by assisting them in purchasing a vehicle in accordance with the provisions of this rule.

2.2.10. "Program participant" means a low-income worker who has applied for, and been approved to receive, assistance from a qualified charitable organization to obtain a vehicle suitable for use as transportation to a place of employment.

2.2.11. "Program value" of a donated vehicle shall be the fair market value of that vehicle as determined by the qualified charitable organization, based on the retail values shown in a nationally accepted used car guide, and the suitability of the vehicle for the program, taking into consideration the condition of the vehicle, and allowing for the cost of any needed repairs to the vehicle.

2.2.12. "Qualified charitable organization" means an organization which meets all of the following criteria:

2.2.13. "Vehicle" or "passenger motor vehicle" means any automobile, truck, van or other motor vehicle that is suitable for use as a means of transporting a worker to his or her place of employment, as determined by a qualified charitable organization under this rule.