ENROLLED
COMMITTEE SUBSTITUTE
FOR
Senate Bill No. 258
(By Senators Tomblin (Mr. President) and Caruth, By Request of the Executive)
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[Passed April 11, 2009; in effect from passage.]
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AN ACT to amend and reenact §11-8-26 of the Code of West Virginia,
1931, as amended, relating to unlawful expenditures by a local
fiscal body; and clarifying that a local fiscal body or its
duly authorized officials shall not be penalized for certain
deficits relating to the unfunded actuarial accrued liability
of the West Virginia Retiree Health Benefit Trust Fund and
annual required employer contributions.
Be it enacted by the Legislature of West Virginia:
That §11-8-26 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 8. LEVIES.
§11-8-26. Unlawful expenditures by local fiscal body.
(a) Except as provided in sections fourteen-b, twenty-five-a
and twenty-six-a of this article, a local fiscal body shall not
expend money or incur obligations:
(1) In an unauthorized manner;
(2) For an unauthorized purpose;
(3) In excess of the amount allocated to the fund in the levy
order; or
(4) In excess of the funds available for current expenses.
(b) Notwithstanding the foregoing and any other provision of
law to the contrary, a local fiscal body or its duly authorized
officials may not be penalized for a casual deficit which does not
exceed its approved levy estimate by more than three percent:
Provided, That
such casual deficit is satisfied in the levy
estimate for the succeeding fiscal year:
Provided, however, That in
calculating a deficit for purposes of this section, account shall
not be taken of any amount for which the local fiscal body may be
liable for the unfunded actuarial accrued liability of the West
Virginia Retiree Health Benefit Trust Fund or any amount allocated
to the local fiscal body as an employer annual required
contribution that exceeds the minimum annual employer payment
component of the contribution, all as provided under article
sixteen-d, chapter five of this code.