§5B-7-4. Reallocation of volume cap

Published: 2015

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WVC 5 B- 7 - 4

§5B-7-4. Reallocation of volume cap.

(a) The Economic Development Authority shall reallocate volume

cap that has been waived pursuant to this article. The authority

may reallocate the volume cap to the state, state agencies,

counties, municipalities or any other political subdivisions or any

other eligible issuer authorized to issue recovery zone bonds

pursuant to Section 5.04 of Internal Revenue Service Notice


(b) As soon as reasonably possible after the effective date of

this section the authority shall adopt a procedure for the

solicitation and receipt of applications, on a form and in a manner

prescribed by the authority, for eligible issuers seeking

reallocated volume cap.

(c) Within ninety days of receipt of written notice from the

Governor the authority shall reallocate any amount of volume cap

waived by a county pursuant to this article. The authority shall

provide written notice of any reallocation to the entity receiving

the reallocation.

Note: WV Code updated with legislation passed through the 2015 Regular Session

The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.