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Introduced Version Senate Bill 306 History

OTHER VERSIONS  -  Enrolled Version - Final Version  |     |  Email
Key: Green = existing Code. Red = new code to be enacted
Senate Bill No. 306

(By Senators Green, White, Laird, Chafin, Edgell, Yost, Minard, Bowman and Kessler)

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[Introduced February 19, 2009; referred to the Committee on the Judiciary; and then to the Committee on Finance.]

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A BILL to amend and reenact §24B-5-3 of the Code of West Virginia, 1931, as amended, relating to pipeline companies paying a special license fee to the Public Service Commission; and increasing the maximum amount of revenue from $300,000 per annum to $400,000 per annum.

Be it enacted by the Legislature of West Virginia:

That §24B-5-3 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 5. EMPLOYEES OF COMMISSION; FUNDING.

§24B-5-3. Funding; property and revenue license fees.

(a) Every pipeline company shall pay a special license fee in addition to those now required by law. The amount of such fees shall be fixed by the Public Service Commission and levied by it upon each of such pipeline companies according to the number of three-inch equivalent pipeline miles included in its pipeline
facilities and shall be apportioned among such pipeline companies upon the basis of the pipeline companies' reports submitted to the commission in such form as the commission may prescribe, so as to produce a revenue of not more than three hundred thousand dollars $400,000 per annum, which fees shall be paid on or before July 1 in each year.
(b) Such sums collected under subsection (a) of this section shall be paid into the State Treasury and kept as a special fund, designated the Public Service Commission Pipeline Safety Fund, to be appropriated as provided by law for the purpose of paying the salaries, compensation, costs and expenses of its employees. Any balance in said fund at the end of any fiscal year shall not revert to the treasury, but shall remain in said fund and may be appropriated as provided in this subsection. All funds which heretofore were in the Public Service Commission Gas Pipeline Safety Fund shall be transferred to the Public Service Commission Pipeline Safety Fund.

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(NOTE: The purpose of this bill is to increase the maximum annual assessment from $300,000 to $400,000.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.)
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