To enhance the flexibility, responsiveness, and economic development potential of the Industrial Access Road Fund

HB 4716 amends West Virginia law to improve how the Industrial Access Road Fund is managed, directly affecting counties and municipalities that use the fund for industrial infrastructure. The bill establishes that 0.75% of state tax collections (or $3 million annually) will fund industrial access roads, with unspent funds needing to be spent within three years or reverting to the State Road Fund. It allows counties to coordinate with regional economic development groups to fund cross-county projects and requires financial guarantees (like bonds) for new industrial sites if construction isn't already underway. The bill ensures funds are used for road construction, safety upgrades, and federal project matching, prioritizing sites with confirmed or imminent industrial development.