WV SB1063

Creates the Economic Development Investment Fund in the State Treasury to finance job-creating capital projects, support strategic industry recruitment, fund infrastructure for large industrial and energy users, and leverage private investment in West Virginia.

Fund may be used for loans, revolving financing, equity participation, infrastructure grants tied to performance agreements, or other financial instruments as determined by the Secretary of Commerce.

Prohibits using the fund for government operating expenses, salary increases, or recurring programmatic spending; limits any single project to no more than 25% of the fund balance without prior notification to the Joint Committee on Government and Finance.

Requires recipients to enter performance agreements with job creation/retention thresholds, private capital investment thresholds, and projected tax base expansion metrics.

Modifies the Revenue Shortfall Reserve Fund by capping annual deposits at 3% of general revenue collections and directing excess fiscal year surplus funds to the new Economic Development Investment Fund instead of the unappropriated surplus.