§12-7-16. Credit of State Not Pledged
The provisions of this article do not and shall not be construed to authorize the jobs investment trust board at any time or in any manner to grant or pledge the credit or taxing power of the state. None of the obligations or debts created by the jobs investment trust board under the authority granted […]
§12-8-1. Short Title
This article shall be known and may be cited as the pension liability redemption act.
§12-8-2. Declaration of Policy; Legislative Findings; Legislative Intent
The Legislature finds and declares that: (a) The Legislature has established a number of pension systems, including the death, disability and retirement fund of the West Virginia State Police established in article two, chapter fifteen of this code; the Judges' Retirement System established in article nine, chapter fifty-one of this code; and the Teachers Retirement […]
§12-8-3. Definitions
As used in this article, unless the context clearly requires a different meaning: (1) "Bonds" means bonds, notes, refunding notes and bonds, or other obligations of the state issued by the Governor pursuant to this article.
§12-8-4. Issuance of Bonds; Determination of Unfunded Actuarial Accrued Liability
(a) The Governor may, as provided by this article, issue the bonds authorized in this section at a time or times as provided by a resolution adopted by the Legislature to fund all or a portion of the unfunded actuarial accrued liability, the bonds to be payable from and secured by moneys deposited in the […]
§12-7-6. Corporate Powers
The board may: (1)( A) Make loans to eligible businesses with or without interest secured if and as required by the board; and (B) acquire ownership interests in eligible businesses. These investments may be made in eligible businesses that stimulate economic growth and provide or retain jobs in this state and shall be made only […]
§12-7-7. Limitation on Investments
Subject to the provisions of 12-7-9 of this code, the board may invest in any eligible business: Provided, That at the time of the placement of the investment not more than 20 percent of the boards total investment portfolio is invested in one eligible business within any two-year period: Provided, however, That the board may […]
§12-7-8. Funding
[Repealed.]
§12-7-8a. New Millennium Fund; New Millennium Fund Promissory Notes; Nonincentive Tax Credits; Rulemaking
(a) The new millennium fund is continued to permit the board to better fulfill its mission to mobilize financing and capital for emerging, expanding and restructuring businesses in the state. New millennium fund moneys are to consist of all appropriations for use by the jobs investment trust board made by the Legislature subsequent December 31, […]
§12-7-9. Applications for Investment Priority; Investment Package
(a) The board shall accept and review applications from eligible businesses and shall determine the investment worthiness, the benefits to the West Virginia economy, the leverage potential for investments in small business investment companies, the jobs creation potential, and the economic circumstances of the region or regions of the state that would benefit from each […]