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WV HB5509
Bill
Status
Introduced
2/13/2026
Primary Sponsor
Dana Ferrell
Click for details
AI Summary
- Creates the Mountain Homes Fund within the Department of Economic Development to provide loan guarantees for residential construction projects, with guarantees covering up to 50% of project costs (maximum $400,000 per project)
- Requires eligible projects to include at least six residential units in a subdivision, housing development, or gated community with a minimum appraised value of $800,000
- Limits completed home sale prices to between $150,000 and $300,000, calculated at four to five times the average West Virginia salary of $55,000, with annual adjustments
- Caps total annual loan guarantees at $10 million and sets a 5-year maximum term for agreements, with the program expiring January 1, 2037
- Excludes timeshares, mobile homes, industrial properties, and commercial operations from eligibility, and imposes misdemeanor penalties (up to $1,000 fine or 1 year imprisonment) for false statements on applications
Legislative Description
Mountain Homes Act
Finance and Administration
Last Action
To House Energy and Public Works
2/13/2026
Committee Referrals
Energy and Public Works2/13/2026
Full Bill Text
No bill text available