This bill amends the Code of West Virginia to enhance the ability of institutions of higher education to engage with private corporations for the purpose of conducting operational, economic, fiscal, and educational development activities related to intercollegiate athletics. It introduces new provisions that allow these institutions to enter into agreements with private corporations, which can include transferring real and personal property to these entities. The bill also specifies that the voting corporate directors of these private corporations must be employees of the institution or its affiliates, and it exempts the activities of these corporations from certain state requirements and procedures.

Additionally, the bill repeals a previous section of the code that governed the assignment or transfer of property to certain corporations, thereby streamlining the process for institutions to collaborate with private entities. The legislative findings emphasize the importance of fostering intercollegiate athletics through these partnerships, which are seen as beneficial for the operational success and competitive nature of athletic programs at state institutions. Overall, the bill aims to facilitate a more efficient and effective collaboration between higher education institutions and private corporations in the realm of athletics.

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