ENROLLED
H. B. 3032
(By Delegates Campbell, Kominar, Jenkins, Kelley, Pettit, Facemyer and
Border)
[Passed March 13, 1999; in effect ninety days from passage.]
AN ACT to amend article two, chapter five-a of the code of West
Virginia, one thousand nine hundred thirty-one, as amended,
by adding thereto a new section, designated section
fourteen-a, relating to creating a reserve fund for the
support of the public employees insurance agency programs;
providing for appropriation of the fund by the Legislature;
requiring state agencies to transfer a percentage of
annualized expenditures of state funds to the fund;
providing for exemptions; and requiring an annual report to
the Governor and the Legislature.
Be it enacted by the Legislature of West Virginia:
That article two, chapter five-a of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
fourteen-a, to read as follows:
ARTICLE 2. FINANCE DIVISION.
§5A-2-14a. Reserves for the public employees insurance programs.
(a) There is hereby created a special revenue account in
the state treasury, designated the "Public Employees Insurance
Reserve Fund", which shall be an interest bearing account and may
be invested in accordance with the provisions of article six,
chapter twelve of this code, with the interest income a proper
credit to the fund.
(b) The fund shall consist of moneys appropriated by the
Legislature and moneys transferred annually pursuant to the
provisions of subsection (c) of this section. These moneys shall
be held in reserve and appropriated by the Legislature only for
the support of the programs provided by the public employees
insurance agency.
(c) Beginning on the thirty-first day of May, two thousand,
and annually thereafter, each state agency except for the higher
education central office created in article four, chapter
eighteen-b; the higher education governing boards as defined in
articles two and three, chapter eighteen-b; and the state
institutions of higher education as defined in section two,
article one, chapter eighteen-b all of this code shall transfer
one percent of its annualized expenditures from state funds,
excluding federal funds based on filled full time equivalents as
determined by the state budget office as of the first day of
April for that fiscal year, to the public employees insurance
reserve fund. The secretary may exempt that transfer only upon
a showing by the requesting agency that the continued operation of that agency is dependent upon receipt of the exemption:
Provided, That for the fiscal year beginning on the first day of
July, one thousand nine hundred ninety-nine, the higher education
central office created in article four, chapter eighteen-b of
this code; the higher education governing boards as defined in
articles two and three, chapter eighteen-b of this code; and the
state institutions of higher education as defined in section two,
article one, chapter eighteen-b of this code are exempt from the
provisions of this subsection.
(d) On the first day of January, two thousand one, and
annually thereafter, the secretary shall provide a report to the
Governor and the Legislature on the amount of reserves
established pursuant to the provisions of this section, the
number of exemptions granted and the agencies receiving those
exemptions.