This bill amends the Certified Business Industrial Expansion Development Program in West Virginia, renaming it and making significant changes to its structure and requirements. The bill allows any plant or facility to participate in the program, removes the stipulation that high impact business development districts must be located on specific lands, and eliminates the requirement for electrical service in these districts to be generated from renewable sources. Additionally, it states that regulated electric utility customers will not incur costs associated with utilities located in these high impact business development districts.

The bill also introduces new provisions regarding the certification of high impact business development districts, including the ability for the Secretary of the Department of Economic Development to certify districts based on their economic impact and potential to attract businesses. It allows for special electric utility rates for eligible customers within these districts and clarifies that costs related to non-utility owned electricity generation will be borne by customers within the district rather than regulated utility customers. The provisions of this section are set to expire on June 30, 2028, but will not affect previously approved districts.

Statutes affected:
Introduced Version: 5B-2-21
Committee Substitute: 5B-2-21
Engrossed Committee Substitute: 5B-2-21