§5E-2-2. Definitions
As used in this article, the following terms have the meanings ascribed to them in this section, unless the context in which the term is used clearly requires another meaning or a specific different definition is provided: (a) "Authority" means the West Virginia economic development authority, provided for in article fifteen, chapter thirty-one of this […]
§5E-2-3. Rules
The authority shall propose rules for promulgation in accordance with article three, chapter twenty-nine-a of this code to carry out the policy and purposes of this article, to provide any necessary clarification of the provisions of this article and to efficiently provide for the general administration of this article.
§5E-2-4. Tax Credits
(a) The total amount of tax credits which may be allocated by the authority pursuant to this article during any fiscal year is equal to the tax credits authorized by section eight, article one of this chapter but unallocated by the authority to qualified West Virginia capital companies during the first thirty days of the […]
§5E-2-5. Elimination of Credit; Effective Date
Notwithstanding any other provision of this article to the contrary, no entitlement to any tax credit under this article shall result from, and no tax credit shall be available to, any taxpayer for any venture capital investment made after December 31, 2006: Provided, That the provisions of this article shall continue to apply to the […]
§5E-1-20. Limitation on Financial Institutions
Not more than forty-nine percent of the total capital base of any capital company which is not a small business investment company may be owned by banks, savings and loan associations, savings banks or other financial institutions, or any affiliate thereof, as investors. No officer, employee or director of any such financial institution may vote […]
§5E-1-21. Confidentiality
(a) The authority shall, by the promulgation of rules, determine which records, reports, or information obtained from any person or entity under this article are to be treated by the agency as confidential and not subject to disclosure, except as hereinafter provided in subsection (c) of this section: Provided, That notwithstanding any other provision of […]
§5E-1-22. Decertification of Qualified Capital Companies Other Than Small Business Investment Companies
Notwithstanding any provision in this article to the contrary, the authority may not hereafter allocate credit to any applicant other than a small business investment company. Every qualified capital company that is not a small business investment company may no longer be considered a qualified capital company and shall, without any further action, be decertified. […]
§5E-1-23. Elimination of Credit; Effective Date
Notwithstanding any other provision of this article to the contrary, no entitlement to any tax credit under this article shall result from, and no tax credit shall be available to, any taxpayer for any investment in a West Virginia capital company made after December 31, 2006: Provided, That the provisions of this article shall continue […]
§5E-2-1. Short Title
The article may be cited as the "West Virginia Venture Capital Act."
§5E-1-15. Investment Reporting and Record Keeping
(a) Each qualified West Virginia capital company shall report, at a minimum, to the Tax Commissioner and the authority on a semiannual basis: (1) The name of each investor in the qualified West Virginia capital company who is entitled to a tax credit;