The bill amends the Code of West Virginia by introducing a new article that establishes the framework for the Economic Development Authority to engage with the federal tax credit scholarship program. It mandates the Secretary of Commerce, or their appointee, to participate in this program, which allows individuals to make qualified contributions to scholarship granting organizations. The Secretary is tasked with identifying qualified scholarship organizations within the state, submitting an annual list of these organizations to the Secretary of the Treasury, and certifying the authority to provide such a list. Additionally, the Secretary will accept applications from scholarship organizations year-round and establish rules for the administration of this process.

The bill also specifies that it will take effect upon passage, ensuring that the provisions regarding participation in the federal tax credit scholarship program and the identification of qualified organizations are implemented promptly. This legislative move aims to enhance educational opportunities through the facilitation of scholarship funding in West Virginia.

Statutes affected:
Introduced Version: 18-31A-1, 18-31A-2, 18-31A-3, 18-31A-4, 18-31A-5, 18-31A-6
Committee Substitute: 31-15D-1, 31-15D-2
Engrossed Committee Substitute: 31-15D-1, 31-15D-2