To provide a funding stream from property taxes collected as a result of new high voltage electric transmission projects being constructed to lower electric rates to benefit West Virginians

Summary

The bill establishes a new funding stream that captures the extra property taxes generated when high‑voltage electric transmission lines are built. Those tax increments are placed in the Electric Grid Stabilization and Security Fund, which the Department of Commerce will use to help keep electricity rates lower for West Virginians. It also sets reporting and distribution rules for the tax revenue.

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