§31-16-4. Steel futures program.
(a) The commission shall develop and recommend a strategy for financial and technical assistance to steel and steel-related industries in the state. The strategy shall include investment policies with regard to these industries. In administering the program, the commission shall consult with appropriate representatives of steel, and steel-related industries, appropriate representatives of any union that represents workers in these industries, and any other persons with expert knowledge of these industries. The commission shall consult with the chairman of the public service commission to foster the development of public and private cooperative efforts that would result in energy savings and reduced energy costs for steel and steel-related industries. The commission shall consult with the division of environmental protection and other agencies with which the steel and steel-related industries must interact to assist the steel and steel-related industries in adhering to regulations in a manner conducive to economic viability. Assistance may be made available to steel and steel-related industries undertaking projects the commission determines to have long-term implications for and broad applicability to the economy of this state when the West Virginia development office finds that:

(1) The undertaking of projects by the steel and steel-related industries will benefit the people of the state by creating or preserving jobs and employment opportunities; and

(2) The undertaking of projects by the steel and steel-related industries will allow them to compete more effectively in the marketplace.

(b) Projects eligible to receive assistance under the steel futures program may include, but are not limited to, the following:

(1) Research and development specifically related to steel and steel-related industries and feasibility studies for business development within these industries;

(2) Employee training;

(3) Labor and management relations; and

(4) Technology-driven capital investment.

(c) Financial and technical assistance may be in the form and conditioned upon terms as stipulated by each enterprise assistance program administered by the West Virginia development office. No later than the thirtieth day of June, one thousand nine hundred ninety-four, and no later than the thirtieth day of June of each year thereafter, the commission shall submit a report to the governor and Legislature describing projects of the steel futures program, results obtained from completed projects of the program and program projects for the next fiscal year.