HB 5129
Change the powers of the West Virginia Water Development Authority regarding funding of Infrastructure Projects
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes the West Virginia Water Development Authority’s (WWDA) ability to fund infrastructure projects. Specifically, it removes the authority’s power to fund projects recommended by the Secretary of Commerce, the Secretary of Economic Development, and/or the Secretary of Tourism. Moving forward, the WWDA can only use its funds for in-state eligible projects, which will be managed through a new Economic Enhancement Grant Fund.
Key provisions
- Creates a new Economic Enhancement Grant Fund within the WWDA.
- Removes the WWDA’s authority to fund projects recommended by specific state secretaries.
- Limits WWDA funding to ‘in-state eligible projects.’
- Establishes Matching Grant and Enhancement Grant subaccounts within the Economic Enhancement Grant Fund.
- Allows the WWDA to enter into grant agreements with governmental agencies and not-for-profits.
- Requires annual audits of the Economic Enhancement Grant Fund.
- Specifies conditions for grant agreements, including project costs, purpose, and compliance requirements.
- Provides for the disbursement of funds to cover bid overruns and other project-related costs.
Who is affected
- West Virginia Water Development Authority
- State Secretaries (Commerce, Economic Development, Tourism)
- Governmental Agencies
- Not-for-profit Organizations
- Local Governments
Notable changes
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