Budget & Taxes (Debt & Bonds)

HB 5685 authorizes up to $150 million in bonds to fund improvements at the West Virginia Science and Culture Center and other state historical sites acquired for preserving West Virginia history. The bill creates a dedicated "Cultural Center Improvements Revenue Debt Service Fund" to be financed annually by $12 million from the State Excess Lottery Revenue Fund (starting fiscal year 2026), with bonds maturing within 20 years. The Economic Development Authority must issue these bonds to cover capital improvements, and the fund will prioritize debt service payments. This directly affects the Science and Culture Center, other historical sites, and taxpayers through lottery revenue allocations.

SB 756 allows state spending units (like departments and agencies) to use "best value procurement" when they determine it benefits the state, expanding an existing authority previously limited to the purchasing director. This method requires selecting bids based on total value - including lifetime costs, technical merit, past performance, and quality - not just the lowest price. The bill specifies that awards must go to the highest-scoring qualified bidder whose proposal is deemed most advantageous in writing, while excluding government construction contracts. It does not create new spending but changes how existing procurement decisions are made across state agencies.

HB 5431 reorganizes West Virginia's laws governing state bond debt by creating new rules for issuing refunding bonds and general obligation bonds. The bill requires the State Treasurer to recommend bond issuance before the state can issue refunding bonds (used to pay off existing debt), establishes debt service funds for each bond series, and mandates the Treasurer to select bond counsel and financial advisors. It exempts bond-related service selections from standard state purchasing rules, prohibits conflicts of interest with penalties, and moves existing bond debt management rules into a single, updated code chapter. This bill directly affects the State Treasurer's office and state debt management processes, streamlining how West Virginia issues and manages its bonded indebtedness.

HB 4430 would eliminate the West Virginia Parkways Authority's power to issue new parkway revenue bonds, parkway revenue refunding bonds, or special obligation bonds after July 1, 2026. This means the Authority cannot raise additional funds for future parkway projects through these bonds after that date. The bill does not affect existing bonds or projects already funded prior to July 1, 2026. It amends specific sections of West Virginia law to set this expiration date for new bond issuances.

HB 4952 establishes two new financing programs within the West Virginia Economic Development Authority to support public charter schools. The Charter School Direct Loan Program provides loans for charter school facility acquisition or improvements, while the Charter School Credit Enhancement Program helps schools secure bonds by reducing financing risks. Both programs create dedicated state treasury funds (the Direct Loan Fund and Credit Enhancement Fund) managed by the Authority, with all funding sourced from charter school repayments - not state general funds. The bill explicitly states these programs do not create state debt, moral obligations, or liabilities for counties or school districts. This directly affects qualifying public charter schools seeking financing for facilities or equipment.

HB 4353 prohibits West Virginia municipalities from collecting business and occupation (B&O) taxes on projects funded by state or federal government programs. This directly affects municipalities (which can no longer impose this tax) and projects receiving such funding (which will avoid this tax burden). The bill amends existing tax law to explicitly exclude state/federal-funded projects from municipal B&O tax collection, aligning with the current exemption for such projects under state tax code. This is a specific policy change to prevent double taxation on government-funded initiatives.