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usury statutes should be repealed, enforced, or changed; and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.