West Virginia HB4009: Relating to the creation of the Portable Benefit Account Act

What the bill says

An act to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-12o; to amend said code by adding there to a new section designated §11-24-6d; and to amend said code by adding thereto a new article, designated §21-18-1, §21-18-2, §21-18-3, §21-18-4, and §21-18-5, all relating to voluntary portable benefit accounts; providing legislative findings; providing definitions; authorizing portable benefit accounts; specifying types of contributions to portable benefit accounts; restricting use of contributions to portable benefit accounts for the purpose.

From the enrolled text, March 14, 2026:

AN ACT to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-12o; to amend said code by adding there to a new section designated §11-24-6d; and to amend said code by adding thereto a new article, designated §21-18-1, §21-18-2, §21-18-3, §21-18-4, and §21-18-5, all relating to voluntary portable benefit accounts; providing legislative findings; providing definitions; authorizing portable benefit accounts; specifying types of contributions to portable benefit accounts; restricting use of contributions to portable benefit accounts for the purpose of various state laws; providing modifications to federal adjusted gross income related to portable benefit accounts for personal income tax and corporate net income tax purposes; and authorizing rule-making. CHAPTER 11. TAXATION. ARTICLE 21. Personal Income tax. §11-21-12o. Additional modifications related to voluntary portable benefits plans. (a) Modification for contributions. -- For taxable years beginning on or after January 1, 2026, in addition to the amounts authorized to be subtracted from federal adjusted gross income pursuant to §11-21-12(c) of this code there shall be subtracted an amount equal to a West Virginia taxpayer's contribution to a voluntary portable benefits plan for the taxable year in which the payment is made, in accordance with §21-18-1 et seq. of this code, but only to the extent the amount is not allowable as a deduction when arriving …

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