This bill aims to amend the Certified Business Industrial Expansion Development Program under the Department of Economic Development in West Virginia. Key changes include renaming the program and the business development districts it certifies, as well as clarifying that the program encompasses any type of plant or facility. Additionally, the bill specifies that electricity supplied to these business development districts can be generated from any fuel source, rather than being limited to renewable sources.

The bill also outlines the certification process for high impact business development districts, which must meet specific economic impact criteria and can only be certified in designated areas. It provides exemptions from certain regulatory requirements for entities generating electricity within these districts and establishes provisions for special electric utility rates for eligible customers. The provisions of this bill are set to expire on June 30, 2028, but will not affect any districts that have already been approved prior to that date.

Statutes affected:
Introduced Version: 5B-2-21