West Virginia House Bill HB129

West Virginia 2023 1st Special Session

• Introduced: 8/6/23
• Refer: 8/6/23

Caption

Supplementing and amending Chapter 11, Acts of the Legislature, Regular Session, 2023, known as the budget bill, to the Department of Economic Development – Office of the Secretary

Impact

The proposed amendments to the budget will enable the Department of Economic Development to allocate funds to various initiatives, including local economic development partnerships, workforce grants, and specific projects aimed at enhancing economic growth within West Virginia. It is designed to support local development entities and educational institutions, reinforcing the state's commitment to boost economic resilience and community partnerships. Additionally, the bill includes provisions for directing transfers to help fund the Economic Enhancement Grant Fund and the Economic Development Fund, demonstrating a strategic focus on fostering economic opportunities.

Summary

House Bill 129 is a supplemental appropriations bill introduced in the West Virginia legislature, aimed at amending the budget bill (Chapter 11, Acts of the Legislature, Regular Session, 2023) specifically for the Department of Economic Development. The bill outlines adjustments to the financial appropriations allocated for the fiscal year ending June 30, 2024, by providing additional funding and reappropriating unspent balances from previous budgetary allocations. This supplementary funding is presented in light of a surplus that remains available for appropriation during the fiscal year.

Sentiment

The sentiment surrounding HB 129 appears to be generally supportive among legislators and stakeholders focused on economic growth. Proponents argue that the supplemental funding will empower local development efforts and address pressing economic needs within communities. However, as with many budget-related bills, there may be underlying concerns regarding the prioritization of funding and the sufficiency of resources allocated to various sectors, which could lead to debates in legislative sessions.

Contention

Notably, while the bill aims to address immediate funding requirements for economic development, it could also spark discussions about fiscal responsibility and long-term budgeting strategies. Concerns may arise regarding the enactment of such supplemental appropriations, particularly among those advocating for a more careful evaluation of the overall state budget. As the bill progresses through the legislative process, potential amendments or adjustments may be proposed to ensure that funding aligns with the state's broader economic goals and community needs.