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Introduced Version - Originating in Committee Senate Concurrent Resolution 60 History

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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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