HOUSE CONCURRENT RESOLUTION NO. 61
(By Delegate Fragale)
[Introduced April 4, 2001; referred to the
Committee on Rules.]
Requesting the Joint Committee on Government and Finance to conduct
a study of the feasibility of utilizing tax increment
financing to fund county development projects.
Whereas, Numerous West Virginia counties are suffering from an
economic depression without apparent means to extricate themselves
from their dilemma; and
Whereas, There exist, in fact, very few tools for local
governments to effectively improve their economic condition; and
Whereas, More than half of the states of this country, by
statute or decision, have authorized counties to use tax increment
financing (TIF), which is a public financing technique that
operates through identifying and planing a project for improving a
certain blighted or underdeveloped area of properties and,
thereafter, causing those public improvements necessary to attract
and stimulate private sector investments by financing the
improvements through the capture of the increased tax revenues generated by the improved project area; and
Whereas, The Harrison County Planning Commission is presently
studying the TIF concept, the historical success of the technique
and the feasibility of its implementation under the laws of this
state; and
Whereas, Enhancement of local economic development directly
affects the lives and living standards of the citizens of each
county of this state; and
Whereas, The Legislature is charged with protecting the public
interests and is relied upon by our citizenry to advantage them of
any measures offering an opportunity to enhance their
circumstances; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to review, examine, study and evaluate: the national
experience with TIF; the likelihood of its successful application
in improving local economic conditions in West Virginia; whether
existing law will permit empowering local governments to exercise
the TIF initiative; whether the momentum of the Harrison County
interest in TIF might be utilized as a pilot project to test the
process; and such other related issues as may arise in the course
of the study; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2002, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to give effect to 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.