ENGROSSED

Senate Bill No. 738

(By Senators Craigo, Sharpe, Jackson, Chafin, Prezioso,

Plymale, Love, Helmick, Anderson, Edgell, Unger,

McCabe, Boley, Minear and Sprouse)

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[Originating in the Committee on Finance;


reported February 28, 2002.]

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A BILL to amend and reenact section fourteen-a, article two, chapter five-a of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to the permissible appropriation of moneys from the public employees insurance reserve fund.

Be it enacted by the Legislature of West Virginia:
That section fourteen-a, article two, chapter five-a of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 2. FINANCE DIVISION.
§5A-2-14a. Reserves for the public employees insurance programs.
(a) There is hereby created continued a special revenue account in the state treasury, designated the "Public Employees Insurance Reserve Fund", which shall be is 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 Provided, That in only the fiscal year beginning the first day of July, two thousand two, and in each of the next two fiscal years thereafter, and ending on the thirtieth day of June, two thousand five, the moneys held in the fund may be appropriated to the bureau of medical services of the department of health and human resources.
(c) Beginning on the thirty-first day of May, two thousand, and annually Annually thereafter, each state agency, except for 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 of said chapter; and the state institutions of higher education as defined in section two, article one of said chapter shall transfer one percent of its annualized expenditures from state funds, excluding federal funds based on filled full time 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 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.