During the 2011 regular legislative session, the West Virginia Legislature passed Senate Bill 465 which is known as the Marcellus Gas Manufacturing and Development Act. The Governor signed SB 465 on April 4, 2011. The bill will become effective July 1, 2011. The bill amends the West Virginia Code in a number of important ways that will encourage the further development of the natural gas industry and certain manufacturing industries that are viable in the state due to the abundance of ethane in the Marcellus Shale. The Act makes several findings regarding the importance of natural gas in the state and the potential of Marcellus Shale drilling to positively impact the economy and instructs state agencies to develop streamlined regulations to ensure regulation in a consistent and comprehensive manner. The legislation amends several state economic development tools to ensure that ethane and other bi-products of natural gas are eligible industries that can take advantage of tax credits for investment in manufacturing activity, valuation of certain manufacturing additional capital at salvage value, and tax credits for research and development investment.