
By Peter Galuszka
The General Assemblyโs auditing watchdog has recommended the elimination ofย two coal tax credits that have been a bonanza to Virginia coal companies worth $315 million from 2010 to 2018 but have created only 10 jobs.
The report by the Joint Legislative and Audit and Review Commission (JLARC) studied 16 different tax credits to boost the stateโs economy but recommendedย only eliminating the ones involving coal production.
Those credits involve the Coalfield Employment Enhancement Tax Credit, formed in 1995, and the Production Incentive Tax Credit, formed in 1986 to help with electricity generation.
Virginiaโs coal production peaked in 1990 and has been declining since. In 2000, for instance, it had been 33 million short tons but in 2019, it had dropped to 12 million short tons.














