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, loan package acceptance, compliance monitoring, state liability, penalties for violations, and effective dates related to the program.

The repeal of these sections indicates that the provisions establishing the Small Business Linked Deposit Program are now considered obsolete and no longer necessary. The bill will take effect 90 days after its passage, on July 10, 2025.