West Virginia HB5359 establishes a funding stream from property taxes on new high voltage electric transmission projects to lower electric rates for.

West Virginia HB5359 creates a special tax method for high voltage electric transmission line property, effective from July 1, 2026. The bill establishes the Electric Grid Stabilization and Security Fund, which will receive 80% of the tax increment from these properties. The remaining 20% will be distributed to the situs county and other counties based on population. The fund, managed by the Department of Commerce, will support electric grid stabilization, efficiency, and environmental upgrades, and maintain utility-owned coal and natural gas generation.

West Virginia HB5359 establishes a funding stream from property taxes on new high voltage electric transmission projects to lower electric rates for.

West Virginia HB5359 creates a special tax method for high voltage electric transmission line property, effective from July 1, 2026. The bill establishes the Electric Grid Stabilization and Security Fund, which will receive 80% of the tax increment from these properties. The remaining 20% will be distributed to the situs county and other counties based on population. The fund, managed by the Department of Commerce, will support electric grid stabilization, efficiency, and environmental upgrades, and maintain utility-owned coal and natural gas generation.