This bill aims to amend the Industrial Access Road Fund provisions in West Virginia's Code to enhance its flexibility and responsiveness for economic development. Key changes include the stipulation that unobligated funds will remain allocated to the original county for three fiscal years before reverting to the State Road Fund. Additionally, the bill allows counties that are part of a regional economic development organization to allocate their funds to projects in other counties, provided they coordinate through the regional entity. The bill also introduces provisions for using fund moneys for safety-related upgrades and improvements tied to approved projects, as well as for matching funds for federally funded transportation projects.

Furthermore, the bill outlines the criteria for the Division of Highways to consider when determining the construction of industrial access roads, emphasizing the importance of traffic volume, economic impact, and the potential for future development. It also clarifies that funds cannot be used for certain facilities and requires certification that industrial sites are operational or under contract before fund allocation. The maximum allocation per county is increased to $500,000, with provisions for evaluating funding thresholds every five years to ensure they remain adequate in light of inflation and construction costs.

Statutes affected:
Introduced Version: 17-3A-1, 17-3A-2, 17-3A-3, 17-3A-4