CHARLESTON, W.Va. — A Senate-House delegation will be hitting the road this summer as part of legislation establishing a job creation task force.
Senate President Jeff Kessler announced Tuesday that the delegation will be heading to North Dakota to learn more about the state’s legacy fund.
The North Dakota Legacy Fund was created in 2011 and is funded by oil and gas tax revenue. The fund reached the $1 billion milestone in only 20 months.
A similar fund for West Virginia was proposed by Kessler. That fund would be called the West Virginia Future Fund.
Kessler in a release said the Future Fund is a great move for the state.
“If we can create the fund and begin investing in it now, it will send a powerful message to Wall Street that West Virginia, during these tough economic times, is not only balancing its budget but also saving for the future,” stated Kessler in the release.
The task force is part of House Bill 3013 which was passed earlier this year.
The bill authorizes the Senate President and House Speaker to appoint job creation work groups that can work independently or in cooperation with the Department of Commerce, the West Virginia Development Office, or other executive office or agency of the state, to obtain information to assist the Legislature’s efforts to take effective action to increase and attract jobs in West Virginia.
The members of this delegation are expected to be chosen at a later date.