Relating to the Certified Industrial Business Expansion Development Program
The bill's impact on state laws is significant as it alters the framework of how electric services are regulated within certified districts. Under HB3365, any public utility subsidiary providing electricity to businesses within these districts would not be subject to typical jurisdictional regulations by the Public Service Commission. Consequently, this would allow for more flexibility in terms of utility rates, potentially making West Virginia a more attractive location for industrial facilities that rely on renewable energy sources.
House Bill 3365 proposes amendments to the West Virginia Economic Development Act of 1985, specifically regarding the certification of high impact industrial business development districts. The bill aims to include non-combustion and carbon dioxide-free fuel sources, alongside those utilizing carbon dioxide sequestration, to enhance the state's economic growth by attracting and retaining high impact industrial plants in designated districts. The legislation outlines the criteria for certification, establishing that such districts must demonstrably contribute positively to the state's economy and be located on specified federal and state lands or previously disturbed mining lands.
The sentiment surrounding HB3365 appears broadly supportive among those focused on economic development, particularly from industry proponents and some lawmakers who favor reducing regulatory barriers. However, it also raises concerns regarding accountability and environmental impacts among certain advocacy groups and other stakeholders. The discourse reflects a tension between promoting industrial growth and ensuring environmental sustainability and public utility oversight.
Notable points of contention within the discussions of HB3365 include worries about the potential loss of regulatory oversight and protections that might arise from exempting utility subsidiaries from Public Service Commission regulations. Critics argue this could lead to insufficient oversight in the provision of electricity or create disparities in service quality and rates. Moreover, the bill's sunset provision, which sets an expiration date for its provisions, raises questions about long-term commitments versus immediate economic incentives.