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House Bill 4191 - Taxation with Representation Act

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On January 21, 2016, Delegate Howell introduced House Bill 4191, which creates the Taxation With Representation Act (the "Act"). Under the Act, nonresidents of a municipality who work in the municipality and pay user fees pursuant to a municipal ordinance may vote in municipal elections. House Bill 4191 has been forwarded to the House Committee on Political Subdivisions for review and consideration.

House Bill 2615 - West Virginia Small Business Capital Act

The House Small Business, Entrepreneurship and Economic Development Committee (the "Committee") recommended that House Bill 2615, which creates the West Virginia Small Business Capital Act (the "Act"), be amended.

Pursuant to the amendment, a securities offering is exempt from the requirements of the West Virginia Uniform Securities Act if, among other things, the issuer of the securities receives no more than $10,000 per year from any single purchaser. When the Act was originally introduced, a securities issuer could receive up to $25,000 per year from any single purchaser without subjecting the securities offering to the requirements of the West Virginia Uniform Securities Act.

The Committee also amended the Act to clarify that the West Virginia Uniform Securities Act's misleading filing provisions, criminal penalty provisions, civil penalty provisions, and fraud provisions were applicable to exempt securities offerings under the Act.

The Committee forwarded House Bill 2615, as amended, to the House Finance Committee for review and consideration.

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