WEST virginia legislature

2016 First Extraordinary session

COMMITTEE SUBSTITUTE FOR

House Bill 116

By Mr. Speaker (Mr. Armstead)
By Request of the Executive

[Originating in the Committee on Finance]

June 11, 2016

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §5-1-30, relating to authorizing the Governor to issue an executive order to direct the scheduled payment of the principal and interest due on bonds or notes of the state or its agencies, boards and commissions if it appears imminent that the next ensuing fiscal year of the state will begin and continue for any period during which the budget bill for that fiscal year has not been enacted and made effective; and expiration of force and effect of executive order.

Be it enacted by the Legislature of West Virginia:

That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §5-1-30, to read as follows:

ARTICLE 1.  THE GOVERNOR.

§5-1-30.  Authority to direct payment of certain debt in emergency.

The Governor shall have plenary power and authority to direct the scheduled payment of the principal and interest due on bonds or notes of the state or its agencies, boards and commissions by executive order if it appears imminent that the next ensuing fiscal year of the state will begin and continue for any period during which the budget bill for that fiscal year has not been enacted and made effective.  The executive order shall continue in full force and effect through said period and shall expire upon the effective date of the budget bill enacted for the fiscal year.