Bill-Bd of Investments, Debt
H. B. 2376
(By Delegate Gallagher)
[Introduced March 1, 1993; referred to the
Committee on Finance then the Judiciary.]
A BILL to amend and reenact section three, article seven, chapter
sixty-four of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to authorizing the
state board of investments to promulgate legislative rules
relating to the reporting of state debt to the board.
Be it enacted by the Legislature of West Virginia:
That section three, article seven, chapter sixty-four of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted, to read as follows:
ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF DEPARTMENT OF TAX AND
REVENUE TO PROMULGATE LEGISLATIVE RULES.
§64-7-3. Board of investments.
(a) The legislative rules filed in the state register on the
third day of January, one thousand nine hundred eighty-four,
relating to the state board of investments (selection of state
depositories for disbursement accounts through competitive
bidding), are authorized.
(b) The legislative rules filed in the state register on thethird day of January, one thousand nine hundred eighty-four,
relating to the state board of investments (administration of the
consolidated fund), are authorized.
(c) The legislative rules filed in the state register on the
ninth day of January, one thousand nine hundred ninety, modified
by the state board of investments to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the twenty-fourth day of January, one thousand nine
hundred ninety, relating to the state board of investments
(administration of the consolidated fund), are authorized.
(d) The legislative rules filed in the state register on the
ninth day of January, one thousand nine hundred ninety, modified
by the state board of investments to meet the objections of the
legislative rule-making review committee and refiled in the state
register on the twenty-fourth day of January, one thousand nine
hundred ninety, relating to the state board of investments
(administration of the consolidated pension fund), are
authorized.
(e) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (establishment of imprest funds), are authorized.
(f) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objectionsof the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (administration of the consolidated pension fund by
the West Virginia state board of investments), are authorized.
(g) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (procedures for processing payments from the state
treasury), are authorized.
(h) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (selection of state depositories for disbursement
accounts through competitive bidding), are authorized.
(i) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (administration of the consolidated fund by the WestVirginia state board of investments), are authorized.
(j) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (selection of state depositories for receipt
accounts), are authorized with the amendment set forth below:
On page three, section four, by striking out the period
after the word "agency" and adding the words "but shall select a
depository in the same community or geographical area as the
agency."
(k) The legislative rules filed in the state register on the
thirtieth day of November, one thousand nine hundred ninety,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the seventeenth day of May, one thousand
nine hundred ninety-one, relating to the state board of
investments (procedures for deposit of moneys with the board of
investments and treasurer's office by state agencies), are
authorized.
(l) The legislative rules filed in the state register on the
sixth day of November, one thousand nine hundred ninety-one,
modified by the state board of investments to meet the objections
of the legislative rule-making review committee and refiled in
the state register on the twenty-first day of August, one
thousand nine hundred ninety-two, relating to the state board ofinvestments (reporting of state debt to the West Virginia state
board of investments), are authorized.
NOTE: The purpose of this bill is to authorize the State
Board of Investments to promulgate legislative rules relating to
the reporting of state debt to the Board.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.