SB 571 — Creating WV Corridor H Advanced Energy and Economic Corridor Authority

Powers and duties.

(a) The Corridor H Authority shall have, but not be limited to, the following powers and duties:

(3) Seek out Private-Publicprivate-public Partnershipspartnerships (P3s) to achieve its vision;

(4) Foster partnerships with groups in other states that follow the I-73/74/75 alignment to help build broad support for the economic development and infrastructure projects undertaken;undertaken in the geographic region of the Corridor H Authority;

(5) AllowPropose legislation for bonding and tax credits to facilitate economic development along theCorridor corridor;H;

CS for SB 571 (6) Seek governmental engagement for guidance on local, state, regionalregional, or national initiatives to achieve economic development objectives;

(7) Utilize cuttingcutting-edge edge technologies and innovation platforms where their applications will be most beneficial;

(9)(8) ConsiderPropose legislativelegislation action to allow regulatory flexibility along corridor expanded boundar8es;boundaries;

(9) Develop a memorandum of understanding (MOU) with the Appalachian Regional Commission (ARC) in areas of economic development, transportation, tourism, infrastructure, Intr SB 2024R3266 technology, and other areas beneficial to the member counties and communities, and the state;

and (10) Develop economic and tourism asset portfolios for inclusion of the Authority’sauthority’s vision.vision;

(d)and The(11) authorityApply mayfor exercisetax-exempt allstatus powersunder necessarySection or501(c)(3) appropriate to carry out the purposes of this article including, but not limited to, the powerInternal to:Revenue Code.

(b) The authority may also exercise all powers necessary or appropriate to carry out the purposes of this article including, but not limited to, the following:

(3) Mortgage or otherwise grant security interests inon its property;

(5) Maintain such sinking funds and reserves as the boardauthority determines appropriate for the purposes of meeting future monetary obligations and needs of the authority;

(6) Contract for the provision of legal services by private counsel and, notwithstanding any other provision of the code to the contrary, the counsel may, in addition to the provisions of §3-5-1other etlegal seq.services, represent the authority in court, negotiate contracts and other agreements on CS for SB 571 behalf of the authority, render advice to the authority on any matter relating to the authority, prepare contracts and other agreements, and provide such other legal services as may be requested by the authority;

of(7) thisAppoint code,officers, theagents, counseland may,employees, inand addition to thecontract provisionsfor of other legal services, represent the authority in court, negotiate contracts and otherengage agreements on behalf of the authority, render advice to the authority on any matter relating to the authority, prepare contracts and other agreements, and provide such other legal services asof mayconsultants; be requested by the authority;

(7)(8) AppointMake officers,contracts agents,of every kind and employeesnature, and to contractexecute all instruments necessary or convenient for andcarrying engageon its business, including contracts with any other governmental agency of this state or of the servicesfederal government, or with any person, individual, partnership, or corporation to effect any or all of consultants;the purposes of this article;

(8)(9) MakeWithout, contractsin ofany everyway, kindlimiting and nature and to execute all instruments necessary or convenient for carrying on its business, including contracts with any other governmentalprovision agency of this statesection, oraccept ofgrants theand federalloans governmentfrom, orand withenter anyinto person,contracts individual,and partnership,other ortransactions corporationwith, to Intr SB 2024R3266 effect any orfederal allagency; of the purposes of this article;

(9)and Without(10) inAccept gifts or grants of property, funds, security interests, money, materials, labor, supplies, or services from the federal government or from any waygovernmental limitingunit or any otherperson, subdivisionfirm, ofor thiscorporation section,and acceptto carry out the terms or provisions of, or make agreements with respect to, or pledge any gifts or grants and loansto from,do any and enterall intothings contractsnecessary, anduseful, otherdesirable, transactionsor with,convenient anyin federalconnection agency;with the procuring, acceptance, or disposition of gifts or grants.

and(c) (10)No Acceptliability gifts or grantsobligation ofis property,incurred funds,by security interests, money, materials, labor, supplies, or services from the federalauthority governmentbeyond or from any governmental unit or any person, firm, or corporation and to carry out the termsextent or provisions of or make agreements with respect to orwhich pledgemoney anyis giftsawarded orfor grantsgrant andacquisition tofacilitation. do any and all things necessary, useful, desirable, or convenient in connection with the procuring, acceptance, or disposition of gifts or grants.

(e)§5B-12-4. The Department of Economic Development shall assist the commission in its functions and operations including, but not limited to, providing administrative, clerical, and technical support.

(f) Members of the Authority Commission are not entitled to compensation for services performed as members.

Each member is entitled to reimbursement for reasonable expenses incurred in the discharge of their official duties.

All expenses incurred by members shall be paid in a manner consistent with guidelines of the Travel Management Office of the Department of Administration and are payable solely from the funds of the Department of Economic Development or from funds appropriated for that purpose by the Legislature.

(g) No liability or obligation is incurred by the Authority beyond the extent to which money is awarded for grant acquisition facilitation.

(h) Members shall meet as designated and scheduled by the chairperson.

The presence of a majority of commission members, in person or by real-time electronic communication, constitutes a quorum to conduct business at a meeting.

(i) When a member of the commission must recuse himself or herself because of a perceived or actual conflict of interest regarding a proposed grant assistance award, a majority of the remaining members of the commission without a conflict shall be sufficient for the conduct of commission business.

Intr SB 2024R3266 §5B-11-3.

TheOn Authorityor Commissionbefore shallDecember provide,1, by2024, Decemberand firstannually ofthereafter, eachthe yearauthority shall prepare and submit to the Joint Committee on Government and Finance,Finance ana annualwritten electronicreport, reportwhich thatmay detailsbe thetransmitted Authority’selectronically, detailing its undertakings for the past year, includingincluding, but not limited toto, all projects undertaken and any privateprivate-public public partnerships entered into, as well as any recommended legislation or policy actions needed to facilitate greater economic development along the Advancedcorridor. Energy and Economic Corridor.

NOTE:

The purpose of this bill is to create the West Virginia Advanced Energy and Economic Corridor Authority Commission comprised of the economic development agencies of Lewis, Upshur, Barbour, Randolph, Tucker, Grant, and Hardy, counties.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.