West Virginia Code of State Rules Agency 117 - Economic Development Authority
Here's a detailed overview of West Virginia Code of State Rules — Agency 117: Economic Development Authority (Title 117):
🏛️ Agency 117 – Economic Development Authority
Title 117, overseen by the West Virginia Economic Development Authority (WVEDA), establishes procedural and legislative rules implementing various economic development initiatives.
📚 Title 117 – Rule Series
According to state sources, Title 117 includes six series covering procedural governance, investment acts, and procurement processes (law.cornell.edu):
Series 117‑01 – General Administration of the WV Capital Company Act (§117‑1‑1 to §117‑1‑11)
Sets out application procedures for the Capital Company Act, which enables WVEDA to designate eligible entities as “Capital Companies.” (apps.sos.wv.gov, apps.sos.wv.gov)
Series 117‑02 – Meetings and Meeting Notices (§117‑2‑1 to §117‑2‑6)
Defines meeting requirements, notice protocols, and terms like “Authority” and “Board.” (apps.sos.wv.gov)
Series 117‑03 – General Administration of the WV Venture Capital Act (§117‑3‑1 to §117‑3‑12)
Provides oversight procedures for administering the Venture Capital Act. (law.cornell.edu)
Series 117‑04 – Economic Development and Technology (§117‑4‑1 to §117‑4‑8)
Governs Economic Development & Technology Advancement Centers and associated programs. (law.cornell.edu, apps.sos.wv.gov)
Series 117‑05 – High‑Growth Business Investment Tax Credit (§117‑5‑1 to §117‑5‑9)
Details eligibility and administration of tax credits for early-stage, high-growth businesses. (law.cornell.edu)
Series 117‑06 – Purchasing Procedures (§117‑6‑1 to §117‑6‑11)
Outlines WVEDA’s procurement policies and vendor protocols. (law.cornell.edu, apps.sos.wv.gov)
🔍 Key Series Insights
Series 117‑01 formalizes how eligible entities apply to become Capital Companies under the Capital Company Act. (apps.sos.wv.gov)
Series 117‑02 ensures transparency through structured meeting schedules and public notices.
Series 117‑03 implements frameworks for WVEDA’s venture capital investments.
Series 117‑04 supports technology and economic advancement through center oversight protocols. (apps.sos.wv.gov)
Series 117‑05 empowers high-growth businesses with potential tax relief, encouraging innovation. (law.cornell.edu)
Series 117‑06, updated August 31, 2020, standardizes procurement practices. (apps.sos.wv.gov)
📌 Authority & Statutory Basis
The Board of WVEDA is established under WV Code §31‑15‑5, detailing its composition and powers. (code.wvlegislature.gov)
Procedural authority for Series 117‑02 and 06 is supported by WV Code §6‑9A‑1 et seq. and §31‑15‑6, respectively. (apps.sos.wv.gov)
Legislative acts like the Capital Company Act (§5E‑1‑5) and Venture Capital Act (§5E‑2‑3) underlie Series 117‑01 and 117‑03. (apps.sos.wv.gov)
✅ Purpose & Impact
These rules ensure WVEDA operates with transparency, procedural integrity, and strategic support for economic growth, covering:
Board compliance through announced meetings.
Business support via Capital & Venture Capital Acts.
Innovation stimulus via tax incentives.
Operational efficiency via procurement standards.
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