HOUSE CONCURRENT RESOLUTION NO. 72
(By Delegates Campbell and Michael)
[Introduced March 4, 2002; referred to the
Committee on Rules.]
Requesting the Joint Committee on Government conduct a study to
determine the feasibility of diverting an additional portion
of net terminal revenue to deposit into a special fund to
establish or enhance retirement benefits for all employees of
the licensed racing association employed in this state.
Whereas, There is sufficient evidence that employees of the
licensed racing association in this state are afforded no, or very
little, retirement benefits; and
Whereas, The possibility exists that an additional one percent
of excess net terminal income may be available for use to
supplement or help provide retirement benefits for employees of the
licensed racing association employed in this state; and
Whereas, The Legislature should investigate and study the
fiscal concerns and the distribution of funds as to frequency,
methodology and amount; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study all issues involved in diverting a portion of
excess net terminal income for and on behalf of all of the
employees of the licensed racing commission employed in this state,
including any present retirements available; the frequency and
methodology of using a portion of net terminal income for this
purpose; past history and cash flow of net terminal income; the
need for a statute addressing the issue and any other relevant
concerns; and, be it
Further Resolved, That the expenses necessary to conduct the
study and to prepare appropriate reports, recommendations and
proposed legislation be paid from legislative appropriations to the
Joint Committee on Government and Finance.
This resolution is recommended for adoption in the 2002
Regular Session by the Joint Committee on Pensions and Retirement.