West Virginia Amendment 1 (1998)

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West Virginia Amendment 1, also known as the Local Option Economic Development Amendment, was on the November 3, 1998, election ballot in West Virginia as a legislatively referred constitutional amendment, where it was defeated.

Election results

The language that appeared on the ballot:

“	Would permit the Legislature to authorize the financing of the public portion of economic development projects through the issuance by counties or municipalities of bonds payable from increases in real and personal property taxes, not including taxes from excess levies, bond levies or other special levies, on the private portion of the economic development projects. Upon payment in full of the bonds, for a term not to exceed 40 years, the increased tax revenues revert to the appropriate levying bodies. No tax revenues of the county or counties or municipality may be pledge to, or used for the payment of the bonds, except unless the issuance of the bonds is approved by a majority of the voters of the county if it is the issuing body, or if a municipality is the issuing body, by a majority of the voters in both the municipality and the county in which the municipality is located.^[1]	”
—National Conference on State Legislatures^[2]

↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
↑ ncsl.org, "Ballot Measures Database," accessed August 25, 2015

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