Senate Bill No. 1005
(By Senators Tomblin (Mr. President) and Caruth,
By Request of the Executive)
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[Introduced May 31, 2009; referred to the Committee on Finance.]
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A BILL to amend and reenact §11-14C-48 of the Code of West
Virginia, 1931, as amended, relating to the Motor Fuel Excise
Tax Shortfall Reserve Fund; providing for continuation of the
Motor Fuel Excise Tax Shortfall Reserve Fund; specifying
termination of the Motor Fuel Excise Tax Shortfall Reserve
Fund in 2013; and requiring the Commissioner of Highways to
submit reports to the Joint Committee on Government and
Finance for a specified time at specified intervals.
Be it enacted by the Legislature of West Virginia:
That §11-14C-48 of the Code of West Virginia, 1931, as
amended, be amended and reenacted to read as follows:
ARTICLE 14C. MOTOR FUEL EXCISE TAX.
§11-14C-48. Motor Fuel Excise Tax Shortfall State Road Fund
support payment.
(a) There is hereby created in the State Treasury a special fund to be known and designated as the "Motor Fuel Excise Tax
Shortfall Reserve Fund" to be administered by the Tax Commissioner
for the purposes provided by this section. The fund shall consist
of moneys transferred to the General Revenue Fund pursuant to
appropriation of the Legislature. At the end of each fiscal year,
during the fund's existence, the moneys in the fund shall not
expire to the general fund, but shall remain available for
expenditure during the ensuing fiscal year. The fund shall
terminate on
the first day of February, two thousand ten August 1,
2013. Any moneys remaining in the fund on that termination date
shall be transferred to the General Revenue Fund. No provision of
this section may be construed to require funding for the purposes
of this section in excess of amounts transferred to the fund
pursuant to appropriation of the Legislature.
(b) Determination of motor fuel excise tax revenue shortfall
for the fiscal year ending the thirtieth day of June, two thousand
eight. --
(1) Shortfall for the fiscal year ending the thirtieth day of
June, two thousand eight. -- On the thirtieth day of June, two
thousand eight, or as soon thereafter as is practicable, the Tax
Commissioner shall determine the amount of the annual motor fuel
excise tax revenue shortfall that occurred for the fiscal year
ending on the thirtieth day of June, two thousand eight.
(2) Transfer for annual shortfall for the fiscal year ending
the thirtieth day of June, two thousand eight. -- On or before the
first day of August, two thousand eight, the Tax Commissioner shall
transfer moneys equal to the lesser of twenty million dollars or
the amount of the motor fuel excise tax revenue shortfall that
occurred for the fiscal year ending on the thirtieth day of June,
two thousand eight from the Motor Fuel Excise Tax Shortfall Reserve
Fund to the State Road Fund.
(c) (b) Monthly shortfalls for the period of July, two
thousand eight to December, two thousand nine fiscal years
beginning on July 1, 2008, 2009, 2010, 2011 and 2012. -- Beginning
on
the thirty-first day of July, two thousand eight July 31 of each
fiscal year beginning in 2008, 2009, 2010, 2011 and 2012, and on
the last day of each month
thereafter of each specified fiscal year
until, and including,
the thirty-first day of December, two
thousand nine June 30, 2013, or as soon after the last day of each
month as is practicable, the Tax Commissioner shall determine the
amount of the monthly motor fuel excise tax revenue shortfall that
occurred for each month. No such determination shall be made for
any month ending after
the thirty-first day of December, two
thousand nine June 30, 2013.
(1)
Transfer for monthly shortfall. -- Within thirty days
after making the determination of the monthly motor fuel excise tax revenue shortfall that occurred for each month, the Tax
Commissioner shall transfer moneys in an amount equal to the amount
of the motor fuel excise tax revenue shortfall that occurred for
each month from the Motor Fuel Excise Tax Shortfall Reserve Fund to
the State Road Fund:
Provided, That the total amount of moneys
transferred from the Motor Fuel Excise Tax Shortfall Reserve Fund
to the State Road Fund in
the each specified fiscal year
ending on
the thirtieth day of June, two thousand nine through total
aggregate monthly transfers shall not exceed
the lesser of $20
million or the balance remaining in the Motor Fuel Excise Tax
Shortfall Reserve Fund. No such transfer shall be made that is
attributable to any month beginning after
the thirty-first day of
December, two thousand nine June 30, 2013: Provided, however, That
transfers attributable to the reconciliation for the period
beginning
the first day of July, two thousand nine July 1, 2012, to
the thirty-first day of December, two thousand nine June 30, 2013,
mandated by paragraph
(3) (2) of this subsection shall be made, if
required.
(2)
Annual reconciliation. -- On
the thirtieth day of June,
two thousand nine June 30 of each fiscal year beginning in 2008,
2009, 2010, 2011 and 2012, or as soon thereafter as is practicable,
the Tax Commissioner shall determine the amount of the annual motor
fuel excise tax revenue shortfall that occurred for
the each of the specified fiscal
year years. ending on the thirtieth day of June,
two thousand nine.
(A)
Transfer for annual reconciliation for the fiscal year.
ending on the thirtieth day of June, two thousand nine. -- The
amount of the annual motor fuel excise tax revenue shortfall that
occurred for
the each specified fiscal year
ending on the thirtieth
day of June, two thousand nine shall be compared to the total
amount of moneys transferred from the Motor Fuel Excise Tax
Shortfall Reserve Fund to the State Road Fund over the same fiscal
year through total aggregate monthly transfers. The resulting
difference is the reconciliation amount.
(B)
Net Shortfall. -- If the total amount of moneys
transferred from the Motor Fuel Excise Tax Shortfall Reserve Fund
to the State Road Fund for
the each specified fiscal year
ending on
the thirtieth day of June, two thousand nine through total
aggregate monthly transfers is less than the amount of the annual
motor fuel excise tax revenue shortfall that occurred over the same
fiscal year, then on or before
the first day of August, two
thousand nine August 1 next succeeding the end of each such
specified fiscal year, an amount of money equal to the
reconciliation amount shall be transferred by the Tax Commissioner
from the Motor Fuel Excise Tax Shortfall Reserve Fund to the State
Road Fund:
Provided, That the sum of the reconciliation amount subject to transfer and the total amount of moneys transferred from
the Motor Fuel Excise Tax Shortfall Reserve Fund to the State Road
Fund in
the each such fiscal year
ending on the thirtieth day of
June, two thousand nine through total aggregate monthly transfers
shall not exceed
the lesser of $20 million or the amount remaining
in the Motor Fuel Excise Tax Shortfall Reserve Fund.
(C)
Net Overage. -- If the total amount of moneys transferred
from the Motor Fuel Excise Tax Shortfall Reserve Fund to the State
Road Fund for
the each specified fiscal year
ending on the
thirtieth day of June, two thousand nine through total aggregate
monthly transfers is greater than the amount of the annual motor
fuel excise tax revenue shortfall that occurred over the same
annual period fiscal year, then moneys equal to the reconciliation
amount shall be offset against amounts that would have otherwise
been transferred by the Tax Commissioner from the Motor Fuel Excise
Tax Shortfall Reserve Fund to the State Road Fund under this
section in the next succeeding fiscal year
beginning on the first
day of July, two thousand nine, and moneys transferred
in the
fiscal year beginning on the first day of July, two thousand nine
shall accordingly decrease.
(3) Transfer for reconciliation for the period beginning the
first day of July, two thousand nine to the thirty-first day of
December, two thousand nine. -- The amount of the annual motor fuel excise tax revenue shortfall that occurred for the period beginning
on the first day of July, two thousand nine through the thirty-
first day of December, two thousand nine shall be compared to the
total amount of moneys transferred from the Motor Fuel Excise Tax
Shortfall Reserve Fund to the State Road Fund over the same period
through total aggregate monthly transfers. The resulting
difference is the reconciliation amount for the period beginning
the first day of July, two thousand nine to the thirty-first day of
December, two thousand nine.
(A) Net Shortfall. -- If the total amount of moneys
transferred from the Motor Fuel Excise Tax Shortfall Reserve Fund
to the State Road Fund for the period beginning on the first day of
July, two thousand nine through the thirty-first day of December,
two thousand nine through total aggregate monthly transfers is less
than the amount of the motor fuel excise tax revenue shortfall that
occurred over the same period, then on or before the first day of
February, two thousand ten, moneys equal to the reconciliation
amount for the period beginning the first day of July, two thousand
nine to the thirty-first day of December, two thousand nine shall
be transferred by the Tax Commissioner from the Motor Fuel Excise
Tax Shortfall Reserve Fund to the State Road Fund: Provided, That
the sum of the reconciliation amount subject to transfer and the
total amount of moneys transferred from the Motor Fuel Excise Tax Shortfall Reserve Fund to the State Road Fund in the period
beginning on the first day of July, two thousand nine through the
thirty-first day of December, two thousand nine through total
aggregate monthly transfers shall not exceed the lesser of twenty
million dollars or the amount remaining in the Motor Fuel Excise
Tax Shortfall Reserve Fund.
(B) Net Overage. -- If the total amount of moneys transferred
from the Motor Fuel Excise Tax Shortfall Reserve Fund to the State
Road Fund for the period beginning on the first day of July, two
thousand nine through the thirty-first day of December, two
thousand nine through total aggregate monthly transfers is greater
than the amount of the annual motor fuel excise tax revenue
shortfall that occurred over the same period, then moneys equal to
the reconciliation amount for the period beginning the first day of
July, two thousand nine to the thirty-first day of December, two
thousand nine shall remain in the State Road Fund for expenditure
as provided by law.
(d) (c) Definitions. --
(1) "Calendar year" means the year beginning on January 1 and
ending on December 31.
(2) "Motor fuel excise tax revenue shortfall" means the
official West Virginia state revenue estimate for motor fuel excise
tax revenues for a designated period minus the amount of motor fuel excise tax collected for the same period:
Provided, That if the
motor fuel excise tax collected for the designated period is
greater than the official West Virginia state revenue estimate for
motor fuel excise tax revenues for the same period, the motor fuel
excise tax revenue shortfall is zero for the period.
(e) (d) Reporting. -- The Commissioner of Highways shall
submit a report to the Joint Committee on Government and Finance
not later than the last day of each month for the period of July
1
2008
two thousand eight through
December, two thousand nine June
30, 2013, providing an analysis of the financial status of the
State Road Fund and funds for highway maintenance.
NOTE: The purpose of this bill is to continue the Motor Fuel
Excise Tax Shortfall Reserve Fund and to specify termination of the
fund on June 30, 2013.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.