SB662 SUB1
COMMITTEE SUBSTITUTE
FOR
Senate Bill No. 662
(By Senators McCabe, Browning, Green, Wells, Williams and
Stollings)
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[Originating in the Committee on Government Organization;
reported February 26, 2010.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new article, designated §5B-4-1, §5B-4-2,
§5B-4-3 and §5B-4-4, all relating to Tamarack Foundation;
providing diminishing state funding for the Tamarack
Foundation for five years; providing benchmarks to sustain
itself as a private entity; and reporting requirements.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new article, designated §5B-4-1, §5B-4-2, §5B-
4-3 and §5B-4-4, all to read as follows:
ARTICLE 4. FUNDING FOR TAMARACK FOUNDATION.
§5B-4-1. Legislative findings, purposes and intent.
The Legislature finds and declares that:
(1) The Tamarack Foundation contributes significantly to
cottage industries in all 55 counties of West Virginia by providing
professional business counseling services that help small
businesses grow and contribute to the state's economy.
(2) The Tamarack Foundation provides a valuable service to
state artists and artisans by introducing these entrepreneurs to
marketing opportunities within and outside of the state to help
them grow their businesses.
(3) The Tamarack Foundation is vital in the development of a
vibrant arts industry, which, as a component of a creative economy,
can be a source of future economic growth for this state.
(4) The Tamarack Foundation is a valuable and unique resource
for West Virginia that has created a successful model for small
business development.
(5) It is in the best interest of the State of West Virginia
to provide diminishing funding to the Tamarack Foundation to affect
the process of transforming the Tamarack Foundation into a self
sustaining private entity.
§5B-4-2. Funding of the Tamarack Foundation.
(a) To achieve the goal of the Tamarack Foundation becoming a
self sustaining private entity by 2016, the state may provide the
Tamarack Foundation with:
(1) $250,000 for fiscal year 2011;
(2) $200,000 for fiscal year 2012;
(3) $150,000 for fiscal year 2013;
(4) $100,000 for fiscal year 2014; and
(5) $50,000 for fiscal year 2015.
(b) The Executive Director of the Tamarack Foundation shall
record all expenses paid by state funds and shall provide a monthly
report of expenses to the Secretary of the Department of Commerce.
§5B-4-3. Benchmarks to be reached for Tamarack Funding.
(a) The Secretary of the Department of Commerce shall
establish benchmarks for the Tamarack Foundation that affects the
goal of the Tamarack Foundation becoming a self sustaining private
entity by 2016.
(b) Prior to the state providing funding to the Tamarack
Foundation, the Tamarack Foundation shall meet the benchmarks
established by the Secretary of the Department of Commerce.
§5B-4-4.
Report of Tamarack Foundation to the Joint Committee on
Government & Finance and the Governor.
(a) The Tamarack Foundation shall report annually to the Joint
Committee on Government and Finance and the Governor commencing
February 1, 2012, and ceasing February 1, 2020.
(b) The report shall:
(1) Outline the usage of the state funding; and
(2) How the Tamarack Foundation is progressing in becoming a
self-sustaining private entity.
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