Secretary of State Natalie E. Tennant said she is pleased to hear the House Homeland Security and Veterans Affairs Committee voted to unanimously pass a bipartisan bill that would waive the registration fee for a new business started by a veteran and the annual report filing fee for the first four years – a potential savings of up to $200.
The Secretary of State’s Office will absorb the cost of waiving the fees and it will not cost taxpayers any additional money.
The bill is endorsed by the West Virginia Veterans Coalition.
According to the Small Business Administration (SBA), veterans are 45 percent more likely to be self-employed than people with no military experience. The SBA also says at least 2.4 million businesses in this country are owned by veterans.
“This piece of legislation is good for our veterans and it is good for West Virginia. I am so happy the committee recognized the bill’s importance,” Secretary Tennant said. “I would like to thank Chairman Josh Nelson for putting this bipartisan bill on his committee’s agenda.”
The “Boots to Business Bill” now advances to the House Finance Committee where it must pass before advancing to the floor.
A similar bill (SB 316) is making its way through the Senate. It has passed the Senate Military Committee and must now be heard by the Senate Finance Committee.
