ENROLLED
COMMITTEE SUBSTITUTE
FOR
H. B. 2307

(By Mr. Speaker, Mr. Chambers, and Delegate Burk)
[By Request of the Executive]

[Passed March 17; in effect from passage.]

AN ACT to amend and reenact section seven, article seven, chapter twelve of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to limitation on investments by the jobs investment trust fund; allowing an additional investment for eligible businesses; limiting the additional investment; and requiring that the additional investment be in the form of a short-term debt investment.

Be it enacted by the Legislature of West Virginia:
That section seven, article seven, chapter twelve of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 7. JOBS INVESTMENT TRUST FUND.
§12-7-7. Limitation on investments.
Subject to the provisions of section nine of this article, the board may invest in any eligible business: Provided, That at the time of the placement of the investment not more than twenty percent of the board's total investment portfolio is invested inone eligible business within any two-year period: Provided, however, That the board may invest in an eligible business up to an additional twenty percent of the board's total investment portfolio, or up to a total of two million dollars, whichever is less. The additional investment must be in the form of a short- term debt investment to be repaid within twelve months of the investment.