West Virginia Senate Bill SB1029

West Virginia 2023 1st Special Session

• Introduced: 8/6/23
• Engrossed: 8/6/23
• Enrolled: 8/8/23
• Passed: 8/8/23
• Chaptered: 8/29/23

Caption

Supplementing and amending appropriations from General Revenue to Department of Economic Development, Office of Secretary

Impact

The bill's provisions aim to provide enhanced funding for local economic development partnerships, with specific allocations designated for multiple organizations including universities and economic development authorities. This approach encourages collaboration and the leveraging of additional resources at the community level, positioning local entities as active participants in fostering economic growth. Furthermore, the bill also emphasizes the need for matching grants, which ensures that local efforts are supplemented by state funding, thereby maximizing investment in economic development efforts across different regions.

Summary

Senate Bill 1029 is designed to supplement and amend appropriations from the General Revenue Fund to the Department of Economic Development for the fiscal year ending June 30, 2024. This act includes various funding allocations aimed specifically at enhancing local economic development initiatives, research, and community projects, reflecting the state's intent to bolster economic activities across West Virginia. The bill passed with a significant majority, indicating broad legislative support for the measures proposed within it.

Sentiment

General sentiment surrounding SB1029 has been positive among legislative members, as evidenced by the strong vote count in favor of the bill. The support reflects a shared understanding of the importance of economic development for local communities, particularly in the aftermath of challenges faced by various regions. Advocates believe that such investments will create jobs and enhance the quality of life for residents, while critics, if any, seem to have been minimal or not vocal enough to influence the legislative outcome.

Contention

While SB1029 successfully garnered significant support, discussions highlighted concerns about the effectiveness of such appropriations and whether they would truly lead to sustainable economic development. Some members expressed apprehensions about the distribution of funds and the potential for disparities in economic growth depending on local capacities and infrastructure. Additionally, the bill's reliance on matching grants raised questions about the ability of smaller or less funded counties to access these resources adequately, warranting closer scrutiny of implementation once enacted.