Senate Bill No. 1004

(By Senators Kessler (Mr. President) and M. Hall,

By Request of the Executive)

____________

[Introduced March 14, 2014; referred to the Committee on Finance.]

____________

A BILL to amend and reenact §19-12A-6a of the Code of West Virginia, 1931, as amended, relating to increasing the annual cap for collections into the Land Division special revenue account of the Department of Agriculture; and depositing half of any excess funds collected into the special revenue account and half into the General Revenue Fund.

Be it enacted by the Legislature of West Virginia:

    That §19-12A-6a of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 12A. LAND DIVISION.

§19-12A-6a. Special revenue account.

    All funds collected by the commission by virtue of pursuant to this article, whether from the sale of food, the disposition of assets other than land, the lease of land or minerals or any other source, shall be paid into a special revenue account to be used for the purposes of this article. Provided, That when the aggregate of said funds so collected and deposited in the special revenue account in any fiscal year total $1,500,000 $2,000,000, the commission shall deposit half of any excess funds collected into the special revenue account, and half into any funds collected in excess thereof in the General Revenue Fund of the state.

    NOTE: The purpose of this bill is to increase the cap for collections into the Land Division special revenue account of the Department of Agriculture from $1.5 million to $2 million and to divide amounts in excess of the cap evenly between the special revenue account and the General Revenue Fund of the State.

    Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.