West Virginia HB4735 creates the Corporate Anti-Subsidy Act to prohibit company-specific subsidies and join an interstate compact against them.

West Virginia HB4735 creates the Corporate Anti-Subsidy Act, allowing West Virginia to join an interstate compact prohibiting company-specific subsidies. The bill aims to end the practice of states offering special tax breaks or grants to specific companies, arguing it is inefficient and unfair. The compact, not retroactive, prohibits new subsidies for companies in member states but does not affect existing ones. Workforce development grants are excluded. The bill also establishes a Board of Member States to oversee the compact and suggest improvements.

West Virginia HB4735 creates the Corporate Anti-Subsidy Act to prohibit company-specific subsidies and join an interstate compact against them.

West Virginia HB4735 creates the Corporate Anti-Subsidy Act, allowing West Virginia to join an interstate compact prohibiting company-specific subsidies. The bill aims to end the practice of states offering special tax breaks or grants to specific companies, arguing it is inefficient and unfair. The compact, not retroactive, prohibits new subsidies for companies in member states but does not affect existing ones. Workforce development grants are excluded. The bill also establishes a Board of Member States to oversee the compact and suggest improvements.