SENATE CONCURRENT RESOLUTION NO. 60
(By Senators Browning, Unger, Caruth, D. Facemire, K. Facemyer,
Hall, Helmick, Kessler, McCabe, Oliverio, Snyder, Stollings,
Wells and Williams)
[Originating in the Committee on Economic Development]
Requesting the Joint Committee on Government and Finance study the
implementation and administration of grants for economic
development, infrastructure and capital improvement through
the West Virginia Economic Development Grant Committee.
Whereas, In 2002, House Bill No. 4005 established the West
Virginia Economic Development Grant Committee to authorize bonds
through the Economic Development Authority from excess state
lottery revenue to award 48 grants to public entities throughout
the state for economic development projects; and
Whereas, On January 29, 2004, the Economic Development
Authority issued $249,895,000 in lottery revenue bonds to fund the
various grants approved though the selection process of the grant
committee; and
Whereas, The grant committee is no longer a functioning entity
and the Economic Development Authority is now administering
disbursements to projects previously approved; and
Whereas, As of February 28, 2009, 95.7 percent of the total amount of approved grants has been disbursed and $2,387,771.09
remains in the Economic Development Projects Bridge Loan Fund;
therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the implementation and administration of grants
for economic development, infrastructure and capital improvement
through the West Virginia Economic Development Grant Committee;
and, be it
Further Resolved, That the Joint Committee on Government and
Finance is hereby requested to study ways to allocate and
distribute public funds for economic development, infrastructure
and capital improvement projects, in as efficient and effective
method as possible to maximize the use of such funds, and to review
the 48 projects selected by the grant committee to determine
whether the projects achieved the economic development results as
contemplated by the enabling legislation; and, be it
Further Resolved, That the Joint Committee on Government and
Finance engage the services and expertise of a consultant for
business and economic research to assist in this comprehensive
study; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2010, on
its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.
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