This bill amends the Code of West Virginia to modify the powers of the Water Development Authority, specifically regarding the funding of infrastructure projects. It removes the authority's ability to fund projects that are recommended by the Secretary of Commerce, the Secretary of Economic Development, and/or the Secretary of Tourism. Instead, the bill stipulates that funding from the newly established West Virginia Economic Enhancement Grant Fund may only be used for in-state eligible projects.

Additionally, the bill introduces a Matching Grant Subaccount and an Enhancement Grant Subaccount within the Economic Enhancement Grant Fund. The Matching Grant Subaccount is intended to provide local or state matches for federal or other programs requiring matching funds, while the Enhancement Grant Subaccount will cover costs related to various infrastructure projects, excluding those recommended by the aforementioned secretaries. The bill also includes provisions for grant agreements with governmental agencies and not-for-profits, ensuring compliance with applicable laws and regulations.

Statutes affected:
Introduced Version: 22C-1-6a