SB 911
Creating First-Time Drive to Work Pilot Program
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill establishes a pilot program within the West Virginia Division of Economic Development to help first-time vehicle buyers who are entering or participating in the workforce. The program offers assistance such as down-payment grants, temporary insurance coverage, and limited loan guarantees, up to a maximum of $6,950 per participant. It targets residents between 18 and 30 with household incomes below 120% of the state median, and requires vehicles to meet specific criteria regarding price, age, and mileage.
Key provisions
- Provides down-payment assistance grants up to $1,500.
- Offers temporary insurance assistance up to $75 per month for six months.
- Provides a limited loan guarantee of up to $5,000.
- Sets eligibility requirements including age, residency, employment, and income limits.
- Establishes vehicle eligibility standards (price, age, mileage, safety inspection).
- Limits the program to $5 million annually and a maximum of 750 participants.
- Requires reporting to the Joint Committee on Government and Finance on program performance.
- Includes a five-year sunset provision for the pilot program.
Who is affected
- First-time vehicle buyers
- West Virginia residents
- Individuals employed or seeking employment in West Virginia
- Low-income individuals (household income under 120% of state median)
- Financial institutions, motor vehicle dealers, and insurance providers
Notable changes
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