WEST virginia Legislature
2024 regular session
Introduced
House Bill 4499
By Delegate Gearheart
[Introduced January 10, 2024; Referred
to the Committee on Finance ]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §12-2-2a, relating to requiring a transfer from reappropriated revenue accounts to General Revenue Fund.
Be it enacted by the Legislature of West Virginia:
(a) Notwithstanding any provision of this code to the contrary, the Treasurer shall transfer 50 percent of the unencumbered balance of each reappropriated revenue account in the State Treasury to the General Fund within 30 days of the effective date of this section. This section does not require a transfer from an individual account if the transfer:
(1) Is prohibited by federal law or a condition of an agreement granting the funds;
(2) Would require the repayment of the amount transferred to an entity that provided the funds; or
(3) Would jeopardize the repayment of bonds.
(b) Once this section becomes effective, no transfer may be made from a reappropriated revenue account until the transfer required by subsection (a) of this section has been made.
NOTE: The purpose of this bill is to require the Treasurer to transfer 50 percent of the unencumbered balance of each reappropriated revenue account in the State Treasury to the General Fund, under certain circumstances.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.