WV SB423

Appropriations exceeding $1 million to any private business entity must be introduced as a separate stand-alone bill in both the House of Delegates and the Senate

Prohibits the Legislature from circumventing the $1 million threshold by authorizing multiple smaller appropriations that combine to exceed $1 million to a single private business entity

Caps the annual balance of the Economic Development Promotion and Closing Fund at $10 million

Caps the annual balance of the Entrepreneurship and Innovation Investment Fund at $100 million

Restricts the Entrepreneurship and Innovation Investment Fund to support only West Virginia residents, removing language about attracting individuals to relocate to the state