Bill Text: WV SB176 | 2024 | Regular Session | Introduced
Bill Title: Relating to permissible expenditures by Water Development Authority from Infrastructure Fund
Spectrum: Moderate Partisan Bill (Republican 7-1)
Status: (Engrossed) 2024-01-15 - To House Finance [SB176 Detail]
Download: West_Virginia-2024-SB176-Introduced.html
WEST virginia legislature
2024 regular session
Introduced
Senate Bill 176
By Senators Swope, Phillips, Tarr, Oliverio, Rucker, Woodrum, Deeds, and Jeffries
[Introduced January 10, 2024]
A BILL to amend and reenact §31-15A-17c of the Code of West Virginia, 1931, as amended, relating to permissible expenditures by the Water Development Authority from the Infrastructure Fund; modifying the upper limit of funds which may be transferred to sub account; raising the cap on total project costs for certain facilities for use of Critical Needs and Failing Systems Sub Account funding; and allowing the authority to grant infrastructure grant money from the Critical Needs and Failing Systems Sub Account to certain projects for the upgrading of a water facility or wastewater facility to reduce maintenance costs, operations costs, or waterline leakages.
Be it enacted by the Legislature of West Virginia:
ARTICLE 15A. WEST VIRGINIA INFRASTRUCTURE AND JOBS DEVELOPMENT COUNCIL.
§31-15A-17c. Critical Needs and Failing Systems Sub Account.
Notwithstanding any provision of this article to the contrary:
(a) The Water Development Authority shall establish a separate and segregated sub account in the Infrastructure Fund designated the Critical Needs and Failing Systems Sub Account into which the council may instruct the Water Development Authority to transfer from the uncommitted loan balances on June 30 each year, up to $12 million $14 million.
(b) The council shall direct the Water Development Authority to make loans or grants from the Critical Needs and Failing Systems Sub Account when the council determines that a project will address a critical immediate need by:
(1) The continuation of water or wastewater services;
(2) Addressing water facility or wastewater facility failure due to the age of the facility or facilities; or
(3) Providing extensions to a water facility or wastewater facility that will add customers with a total project cost of less than $2 million $3 million: Provided, That a person or governmental agency, as those terms are defined in §31-15A-2 of this code, shall pay any overage not to exceed 10 percent of the total project cost; or
(4) Upgrading a water facility or wastewater facility to reduce the maintenance costs, operations costs, or waterline leakages with a total project cost of less than $300,000.
(c) Grant limitations and allocations contained in §31-15A-10(b) and §31-15A-10(c) of this code do not apply to grants made from the Critical Needs and Failing Systems Sub Account.
