The bill passed on April 11, 2025, aims to repeal several sections of the West Virginia Code that pertain to the West Virginia Small Business Linked Deposit Program. Specifically, it repeals sections 12-1A-1 through 12-1A-9, which include definitions, legislative findings, limitations on investments, application processes, acceptance or rejection of loan packages, compliance monitoring, state liability, penalties for violations, and effective dates related to the program.

By eliminating these provisions, the bill effectively discontinues the Small Business Linked Deposit Program, which is deemed obsolete. The repeal will take effect 90 days after passage, on July 10, 2025, signaling a significant shift in the state's approach to supporting small businesses through linked deposits.