West Virginia Senate Bill SB707

West Virginia 2023 Regular Session

• Introduced: 2/20/23
• Refer: 2/20/23

Caption

Making supplementary appropriation to Miscellaneous Boards and Commissions, Economic Development Authority

Impact

The passage of SB 707 would provide financial backing to the Economic Development Authority, which plays a critical role in fostering economic growth and development in West Virginia. By supplementing this authority with federal funds, the bill intends to facilitate various economic initiatives and projects that can lead to job creation and improved public services. This supplementary appropriation is crucial, especially given the challenges faced by the state’s economy in recent times.

Summary

Senate Bill 707 seeks to make a supplementary appropriation of federal funds to support various miscellaneous boards and commissions, particularly the Economic Development Authority in West Virginia. It aims to allocate $5 million for current expenses under the specified fund for the fiscal year ending June 30, 2023. This action is based on the availability of federal funds as established by the Governor, which necessitates legislative approval to ensure appropriate usage within the state budget framework.

Sentiment

The sentiment surrounding SB 707 appears to be generally positive among legislators who support economic development initiatives. There is a recognition of the need for enhanced funding and resources to uplift the state’s economic prospects. However, there may also be concerns regarding the reliance on federal funds and the long-term sustainability of initiatives that depend on such appropriations. Overall, the support for this bill reflects a collective focus on state investment in economic and community development.

Contention

While there does not seem to be significant contention highlighted directly concerning SB 707, funding allocations in general can spark debate over prioritization and accountability regarding how federal funds are utilized at the state level. Potential issues could arise around transparency in fund allocation and the effectiveness of the Economic Development Authority in utilizing the additional funding to yield tangible benefits for West Virginians.