HB4010 S FIN AM #1 3-9
Childs 7949
The Committee on Finance moved to amend the bill by striking out everything after the enacting clause and inserting in lieu thereof the following:
(a) There is hereby created a sub-fund of the Economic Development Project Fund in the State Treasury known as the Airport Hangar Development Fund. The sub-fund shall consist of all moneys transferred to the sub-fund pursuant to this section from the Economic Development Project Fund; gifts, grants, and contributions to the fund; any earnings or interest accruing to the fund; and any other moneys appropriated to the sub-fund by the Legislature. The authority may invest and reinvest moneys in the sub-fund with the West Virginia Investment Management Board or the Board of Treasury Investments.
(b) On or before July 1, 2026, the authority shall transfer $75 million from the Economic Development Project Fund to the Airport Hangar Development Fund.
(c) The authority shall use moneys in the Airport Hangar Development Fund to spur economic development in aviation repair, overhaul, assembly, and maintenance by providing grants for the construction of wide-bodied hangars at airports located within the state. On or before September 1, 2026, the authority shall establish the Airport Hangar Grant Program. The program shall offer grants to counties, municipalities, and regional airport authorities located within the state to fund the planning, acquisition, construction, improvement, maintenance, or operation of wide-body hangar facilities owned or operated or to be owned or operated by the counties, municipalities, or regional airport authorities receiving the grants.
(d) The authority shall establish criteria for awarding of grants.
(e) Grants may only be given for hangars with a minimum clear width of 250 feet, clear depth of 225 feet, and clear height of 75 feet. Preference shall be given to hangars with a minimum clear width of 350 feet, clear depth of 330 feet, and clear height of 90 feet. Preference shall also be given to airports with higher pavement classification ratings, runways over 7,500 linear feet and larger proposed hangar size: Provided, however, That moneys for grants for runways over 8,000 linear feet must kept available for at least one grantee.
(f) Applications for grants shall include proposed concept plans and site plans for a proposed hangar and demonstrate the airport’s capability to locate the hangar with runway and taxiway access. Applications for grants shall include important airport characteristics, including, but not limited to, available property for the hangar and expansion for new business development, runway length, runway width, landing distance area, take-off runway area, pavement classification, rating of runway, and other relevant information important to the applicant.
(g) The authority may cooperate with the offices of the West Virginia Division of Multimodal Transportation Facilities, the Department of Commerce, and other state and local agencies to explore all available opportunities for funding such hangar projects.
(h) The authority may limit the number of airports participating in the pilot project program based on availability of allocated funds.
(i) The authority shall set the rules and conditions for participating airports based on available funding.
(j) The authority may promulgate legislative rules, including emergency rules, pursuant to §29A-3-1 et seq. of this code to effectuate the purposes of this section.
(k) On July 1 of each year, the authority shall annually provide a full summary report digitally of the status of the Airport Hangar Grant Program to the Joint Committee on Government and Finance.
Adopted
Rejected