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SB495 SUB1 Senate Bill 495 History

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COMMITTEE SUBSTITUTE

FOR

Senate Bill No. 495

(By Senator Edgell)

____________

[Originating in the Committee on Agriculture and Rural Development;

reported February 18, 2014.]

____________

 

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 to $3 million; increasing the aggregate cap to $5 million; and depositing excess 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.

    (a) 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, the commission shall deposit any funds collected in excess thereof in the General Revenue Fund of the state.

    (b) The funds collected in the special revenue account shall not exceed $3 million in any fiscal year. The aggregate of the funds in the special revenue account shall not exceed $5 million in any given year. The commissioner shall deposit any excess funds exceeding the annual or aggregate limits into the General Revenue Fund of the state.


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