(a) Any other provision of this code notwithstanding, there is hereby continued in the State Treasury the Industrial Access Road Fund, referred to in this article as "the fund". There shall be deposited into the fund three fourths of one percent of all state tax collections which are otherwise specifically dedicated by the provisions of this code to the State Road Fund or the percentage of those tax collections that will produce $3 million for each fiscal year. At the end of each fiscal year, all unobligated moneys in the fund revert to the State Road Fund.
(b) The moneys in the fund shall be expended by the Division
of Highways for constructing and maintaining industrial access
roads within counties and municipalities to industrial sites on
which manufacturing, distribution, processing or other economic
development activities, including publicly owned airports, are
already constructed or are under firm contract to be constructed.
In the event there is no industrial site already constructed or for
which the construction is under firm contract, a county or
municipality may guarantee to the Division of Highways an
acceptable surety or a device in an amount equal to the estimated
cost of the access road or that portion provided by the Division of
Highways, that an industrial site will be constructed and if no
industrial site acceptable to the Division of Highways is
constructed within the time limits of the surety or device, the
surety or device shall be forfeited.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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