SENATE
HOUSE
JOINT
BILL STATUS
STATE LAW
REPORTS
EDUCATIONAL
CONTACT
home
home
SB258 SUB1 Senate Bill 258 History

OTHER VERSIONS  -  Introduced Version  |  Enrolled Version - Final Version  |     |  Email
Key: Green = existing Code. Red = new code to be enacted


COMMITTEE SUBSTITUTE

FOR


Senate Bill No. 258

(By Senators Tomblin (Mr. President) and Caruth, By Request of the Executive)

____________

[Originating in the Committee on Government Organization;

reported March 19, 2009.]

____________



A BILL 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 shall not be penalized for:
(1) A casual deficit which does not exceed its approved levy estimate by more than three percent: Provided, That such casual deficit be is satisfied in the levy estimate for the succeeding fiscal year; or
(2) Any amount for which the local fiscal body or its duly authorized officials are determined to be responsible for the unfunded actuarial accrued liability of the West Virginia Retiree Health Benefit Trust Fund or any amount allocated to the local fiscal body or its duly authorized officials 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.


_________


(NOTE: The purpose of this bill is to clarify that local fiscal bodies shall not be held personally or criminally liable for certain deficits caused by the unfunded actuarial accrued liability of the West Virginia Retiree Health Benefit Trust Fun or amounts for the annual required employer contribution over and above the minimum annual employer premium payment for other post-employment benefits.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.)
This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.  |  Terms of Use  |   Email WebmasterWebmaster   |   © 2024 West Virginia Legislature **


X

Print On Demand

Name:
Email:
Phone:

Print