Senate Bill No. 336

(By Senators Ross, Anderson, Minard,

Snyder, Boley and Minear)

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[Introduced January 24, 2002; referred to the Select

Committee on Economic Development; then

to the Committee on Finance; and then

to the Committee on the Judiciary.]

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A BILL to amend and reenact section one, article ten, chapter sixty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to authorizing the economic development authority to promulgate a legislative rule relating to the general administration of the West Virginia venture capital act.

Be it enacted by the Legislature of West Virginia:
That section one, article ten, chapter sixty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 10. AUTHORIZATION FOR BUREAU OF COMMERCE TO PROMULGATE
LEGISLATIVE RULES.
§64-10-1. Economic development authority.
(a) The legislative rule filed in the state register on the thirty-first day August, two thousand, under the authority of section five, article one, chapter five-e of this code, relating to the economic development authority (general administration of the West Virginia capital company act; establishment of the application procedures to implement the act, 117 CSR 1), is authorized.
(b) The legislative rule filed in the state register on the twenty-fourth day of July, two thousand one, authorized under the authority of section three, article two, chapter five-e, of this code, modified by the economic development authority to meet the objections of the legislative rule-making review committee and refiled in the state register on the twenty-ninth day of November, two thousand one, relating to the economic development authority (general administration of the West Virginia venture capital act, 117 CSR 3), is authorized.

NOTE: The purpose of this bill is to authorize the Economic Development Authority to promulgate a legislative rule relating to the General Administration of the West Virginia Venture Capital Act.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.