HB3340: To revise the West Virginia Tax Increment Financing Act

Legislative Summary

The purpose of this bill is to revise the West Virginia Tax Increment Financing Act to authorize a county commission or municipality to extend the termination date of certain districts in light of the impact of COVID-19 on districts which had issued bonds prior to December 31, 2020, and clarifying the notice period for providing a copy of notice of public hearing to levying bodies prior to conducting a public hearing on the approval or amendment of a project plan and making other clarifications.