This bill amends and reenacts sections of the Code of West Virginia related to agreements between institutions of higher education and private corporations, specifically focusing on operational, economic, fiscal, and educational development activities related to intercollegiate athletics. It introduces new provisions that allow institutions to contract with private corporations for these purposes, while also limiting the voting corporate directors of such entities to employees of the institution or its affiliates. Additionally, the bill clarifies that the activities of these private corporations will be exempt from certain state requirements and procedures, and it allows institutions to transfer real and personal property to qualifying private corporations.

The bill also repeals a previous section that governed the assignment or transfer of property to certain corporations, thereby streamlining the process for institutions to engage with private entities. It emphasizes the importance of enhancing the operational success of intercollegiate athletics through these partnerships and outlines the responsibilities of the corporations in managing fiscal and operational aspects of athletics programs. Overall, the legislation aims to foster collaboration between higher education institutions and private corporations to improve the competitive nature of intercollegiate athletics in West Virginia.

Statutes affected:
Introduced Version: 18B-12-2, 18B-12-3, 18B-12-4, 18B-12-10