HOUSE CONCURRENT RESOLUTION NO. 67

(By Delegates Douglas, Collins, Azinger, Butcher, Capito, Claypole, Davis, Everson, Flanigan, Heck, Given, Kuhn,

Louisos, Overington, Prunty, Smith, Stalnaker, Thompson,

Tucker, Varner, Willis and Willison )



Requesting the Joint Committee on Government and Finance to conduct a study on the assigning the duties of the West Virginia Lending and Credit Rate Board.

WHEREAS, The legislative auditor's office, performance evaluation and research division conducted a preliminary performance review of the board and found that it was not carrying out its duties according to state statute and therefore recommended its termination; and
WHEREAS, The termination of the West Virginia lending and credit rate board raises troubling questions about whether state usury statutes should be repealed, enforced, or changed; and
WHEREAS, there are questions concerning whether interest rates should be set by the market or whether the interests of consumers demand protection; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby requested to conduct a study on assigning the duties of the West Virginia lending and credit rate board to determine the best way to assign such duties and make recommendations to the Legislature in the regular session 1999; and, be it
Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 1999, on its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations; and, be it
Further Resolved, That expenses necessary to conduct this study and to prepare and report necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.