WV HB4735

Authorizes West Virginia to join the Interstate Compact Agreement Prohibiting Company-Specific Subsidies, which would ban states from offering individualized tax breaks or grants to lure specific companies

Prohibits company-specific tax incentives (special tax rates negotiated with individual companies) and company-specific grants (cash, property, or deferred tax disbursements to particular companies)

Exempts existing subsidies from the ban, though any renewals, reenactments, or modifications to existing deals would be treated as new subsidies and prohibited

Excludes workforce development grants that train employees from the prohibition

Establishes a Board of Member States with five appointees per state (from the governor and legislative leadership) to meet annually, collect testimony, and propose improvements to the compact