HB 4174
Creating a standing legislative oversight committee to approve all West Virginia Economic Development contracts.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes a new Legislative Oversight Committee for the West Virginia Economic Development Authority. This committee will be responsible for reviewing and approving all financial contracts entered into by the Economic Development Authority. The committee will consist of seven members, four from the House of Delegates and three from the Senate, with the Senate President and Speaker of the House responsible for appointment. This change aims to increase transparency and accountability in the Economic Development Authority’s contracting processes.
Key provisions
- Creates a Legislative Oversight Committee comprised of seven legislators (four House, three Senate).
- The committee’s primary function is to approve all contracts by the West Virginia Economic Development Authority.
- The Senate President appoints the Senate members, and the Speaker of the House appoints the House members.
- Contracts presented to the Economic Development Authority must be addressed within a reasonable timeframe for approval or denial.
Who is affected
- West Virginia Economic Development Authority
- Legislature of West Virginia
- State Government
- Businesses seeking Economic Development Authority funding
- Taxpayers
Notable changes
- Previously, contracts were approved internally by the Economic Development Authority.
- This bill introduces a new layer of legislative oversight for all Economic Development Authority contracts.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Kump
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