Source: http://www.wvlegislature.gov/bill_status/bills_text.cfm?billdoc=sb289%20intr.htm&yr=2009&sesstype=RS&i=289
Timestamp: 2018-04-20 18:54:09
Document Index: 702408456

Matched Legal Cases: ['§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§31', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§31', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5', '§5']

[Introduced February 18, 2009; referred to the Committee on Economic Development; and then to the Committee on Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article, designated §5E-3-1, §5E-3-2, §5E-3-3, §5E-3-4, §5E-3-5, §5E-3-6, §5E-3-7, §5E-3-8 and §5E-3-9; and to amend and reenact §31-15-6 of said code, all relating to the creation of an innovation and development program; providing a short title and declaration of policy; setting forth purposes; providing definitions; authorizing and directing the Economic Development Authority to propose rules to implement its provisions and provide for the effective and efficient administration of the program; authorizing the authority to provide technical and professional assistance to entrepreneurs in the state; authorizing the authority to make qualified investments and loans; authorizing recoverable revenue credits to private investors for investments in qualified investment companies pursuant to rules to be promulgated by the authority; and specifying disclosure, conflict of interest and confidentiality standards for the operation of the innovation and development program.
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new article, designated §5E-3-1, §5E-3-2, §5E-3-3, §5E-3-4, §5E-3-5, §5E-3-6, §5E-3-7, §5E-3-8 and §5E-3-9; and that §31-15-6 of said code be amended and reenacted, all to read as follows:
§5E-3-5. Rules.
The authority shall propose rules, for legislative approval in accordance with article three, chapter twenty-nine-a of this code to carry out the policy and purposes of this article, to provide any necessary clarification of the provisions of this article and to efficiently provide for the general administration of this article. The authority may propose additional rules for legislative approval in accordance with article three, chapter twenty-nine-a of this code that it considers necessary to provide for the efficient administration of the recoverable revenue credits awarded to qualified investment companies under this article.
§5E-3-8. Conflict of interest.
§5E-3-9. Confidentiality.
(o) To make, amend, repeal and adopt both bylaws and rules and regulations`` for the management and regulation of its affairs.
§5E-3-1, §5E-3-2, §5E-3-3, §5E-3-4, §5E-3-5, §5E-3-6, §5E-3-7, §5E-3-8 and §5E-3-9 are new; therefore, strike-throughs and underscoring have been omitted.