The proposed bill amends the Code of West Virginia to enhance economic development through the establishment of the Business Expansion Development Program and the Modern American Generation Act. It introduces a certified microgrid program that includes taxation and regulation of power generation facilities within designated high impact business development districts. The Secretary of the Department of Economic Development is tasked with certifying these districts and determining eligible electric customers, while construction and operational costs will be the responsibility of customers within these districts. The bill limits the certification of high impact business development districts to a maximum of two at any given time.

Key changes include the replacement of the term "Industrial" with "Business" in the Business Expansion Development Program and the introduction of new articles detailing taxation methods for certified microgrid districts. Properties within these districts that see a significant increase in appraised value will be subject to a unique taxation structure, while certain tax arrangements, such as payments in lieu of taxes and tax increment financing, are prohibited for properties related to electricity generation and distribution. The bill also outlines the criteria for microgrid operators, including the requirement to submit a confidential letter of intent and a verified petition to the Public Service Commission, and ensures that certified microgrid operators and their customers are not classified as public utilities, thereby exempting them from certain regulatory requirements.

Statutes affected:
Introduced Version: 11-6M-1, 24-2J-1, 24-2J-2, 24-2J-3, 24-2J-4, 24-2J-5, 24-2J-6, 24-2J-7, 24-2J-8