SENATE CONCURRENT RESOLUTION NO. 69

(By Senators Williams, Cann, Beach, Blair, Cookman, Kirkendoll, McCabe, Snyder, Stollings, Sypolt, Walters and Wells)

[Originating in the Committee on Economic Development]

Requesting the Joint Committee on Government and Finance study the West Virginia Project Launchpad Act; the feasibility of comprehensive tax credits to encourage development of advanced technologies; and the fiscal impact of enacting such comprehensive tax incentive legislation.

    Whereas, Vision Shared plays an important role in helping to create a vibrant and diverse economy in West Virginia; and

    Whereas, The Legislature has previously set forth its intent that Vision Shared is to help in working toward developing a comprehensive statewide economic development strategy, effectively coordinate economic development programs statewide and develop meaningful agency and program benchmarks and performance-based evaluations; and

    Whereas, Vision Shared, working with a combination of business and labor leaders, has determined that the West Virginia Project Launchpad Act will help West Virginia retain its highly skilled and educated workforce, encourage further business development and assist the Legislature in fulfilling the aforementioned goals; and

    Whereas, Despite our highly skilled and educated workforce, West Virginia suffers from a lack of advanced technology businesses, many of which offer good-paying jobs that provide good benefits to their employees; and

    Whereas, Encouraging development of such businesses is a key in growing West Virginia’s economy, providing more good-paying jobs to its citizens and retaining our high school graduates, college graduates and professionals; and

    Whereas, Tax credits are an important element in encouraging business development and relocation in West Virginia; therefore, be it

    Resolved by the Legislature of West Virginia:

    That the Joint Committee on Government and Finance is hereby requested to study the West Virginia Project Launchpad Act; the feasibility of comprehensive tax credits to encourage development of advanced technologies; and the fiscal impact of enacting such comprehensive tax incentive legislation; and, be it

    Further Resolved, That Vision Shared and the West Virginia State Tax Department are requested to assist the Joint Committee on Government and Finance in its study of the West Virginia Project Launchpad Act; and, be it

    Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 2014, on its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations; and, be it

    Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.