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West Virginia Code

11B

West Virginia Tax Increment Financing Act.

7-11B-1Short title.7-11B-2Findings and legislative purpose.7-11B-3Definitions.7-11B-4Powers generally.7-11B-5Powers supplemental.7-11B-6Application for development or redevelopment plan.7-11B-7Creation of a development or redevelopment area or district.7-11B-8Project plan — approval.7-11B-9Project plan – amendment.7-11B-10Termination of development or redevelopment district.7-11B-11Costs of formation of development or redevelopment district.7-11B-12Overlapping districts prohibited,7-11B-13Conflicts of interest; required disclosures and abstention.7-11B-14Projects financed by tax increment financing considered to be public improvements subject to prevailing wage, local labor preference and competitive bid requirements.7-11B-15Reports by county commissions and municipalities, contents, and publication; procedure to determine progress of project; reports by Development Office, content of reports; rule-making authority; Development Office to provide manual and assistance.7-11B-16Valuation of real property.7-11B-17Division of ad valorem real property tax revenue.7-11B-18Payments in lieu of taxes and other revenues.7-11B-19Tax increment obligations generally.7-11B-20Tax increment financing obligations -- authority to issue.7-11B-21Tax increment financing obligations -- authorizing order or ordinance.7-11B-22Tax increment financing obligations — terms, conditions.7-11B-23Tax increment financing obligations -– security -– marketability.7-11B-24Tax increment financing obligations -- special fund for repayment.7-11B-25Tax increment financing obligations – Tax exemption.7-11B-26Excess funds.7-11B-27Computation of local share for support of public schools when tax increment financing is used.7-11B-28Effective date.7-11B-29Joint development or redevelopment districts.7-11B-30Application by Division of Highways.