The proposed bill aims to establish the Central West Virginia Economic Development and Rural Revitalization Act, which will create a coordinated program to address economic distress in specific counties within central West Virginia. The bill outlines legislative findings that highlight the challenges faced by these counties, including limited employment opportunities and declining infrastructure. It defines the "Central West Virginia region" to include Webster, Clay, Braxton, Roane, Calhoun, Wirt, Lewis, and Gilmer counties, and sets forth the program's purpose to encourage private investment, support small businesses, improve infrastructure, and enhance tourism.

The bill authorizes the West Virginia Department of Commerce to administer the program, which will provide grants, loans, and technical assistance for various projects aimed at economic development. It introduces tax incentives, including a Central West Virginia Investment Tax Credit and a Small Business Job Creation Tax Credit, to encourage job creation and investment in the region. Additionally, the Department is tasked with reporting on the program's outcomes and performance metrics annually. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced Version: 5B-12-1, 5B-12-2, 5B-12-3, 5B-12-4, 5B-12-5, 5B-12-6, 5B-12-7, 5B-12-8, 5B-12-9, 5B-12-10, 5B-12-11