West Virginia legislation · 2026 Regular Session
West Virginia SB1: Small Business Growth Act
Status: Signed into law, February 23, 2026
What the bill says
An act to amend the Code of West Virginia, 1931, as amended, by adding a new article, designated §5B-12-1, §5B-12-2, §5B-12-3, §5B-12-4, §5B-12-5, §5B-12-6 and §5B-12-7, relating to establishing the WV First Small Business Growth Act; defining terms; creating the WV First Small Business Growth Program to be administered by the Department of Commerce; establishing program procedures and requirements; providing application procedures and requirements; providing for the certification of capital investment authority; establishing insurance premium tax credit; providing tax credit claimant and reca.
From the enrolled text, February 16, 2026:
AN ACT to amend the Code of West Virginia, 1931, as amended, by adding a new article, designated §5B-12-1, §5B-12-2, §5B-12-3, §5B-12-4, §5B-12-5, §5B-12-6 and §5B-12-7, relating to establishing the WV First Small Business Growth Act; defining terms; creating the WV First Small Business Growth Program to be administered by the Department of Commerce; establishing program procedures and requirements; providing application procedures and requirements; providing for the certification of capital investment authority; establishing insurance premium tax credit; providing tax credit claimant and recapture procedures; prohibiting certain investments; and requiring annual reporting. ARTICLE 12. WV First SMALL BUSINESS GROWTH ACT. §5B-12-1. Title. The provisions of this article shall be known as, and may be cited as, the WV First Small Business Growth Act. §5B-12-2. Definitions. (a) Any term used in this article has the meaning ascribed by this section unless a different meaning is clearly required by the context of its use or by definition in this article. (b) For purposes of this article, the term: "Affiliate" means an entity that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under the common control with another entity. An entity is controlled by another entity if the controlling entity holds, directly or indirectly, the majority of voting or ownership interest in the controlled entity or has control …