H. B. 4531
(By Delegates Cann, Michael,
Frederick, Kominar and Kuhn)
[Introduced February 19, 2002; referred to the
Committee on Finance.]
A BILL to amend article four, chapter twelve of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, by
adding thereto a new section, designated section sixteen,
relating to state funds and accounts;
requiring the state
treasurer to transfer amounts required by the Legislature from
statutorily created funds or accounts; and
authorizing the
treasurer to monitor all state funds and accounts created by
the Legislature
.
Be it enacted by the Legislature of West Virginia:
That article four, chapter twelve of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
sixteen, to read as follows:
ARTICLE 4. ACCOUNTS, REPORTS AND GENERAL PROVISIONS.
§12-4-16. Transfer of specified excess funds.
(a) The treasurer has authority to monitor all state funds and
accounts created by the Legislature. It is the treasurer's duty to
transfer, using the state's accounting system, the appropriate
amount of excess funds whenever the Legislature has:
(1) Created a fund or account and provided that only a
specified amount is allowed to remain in the fund or account from
one fiscal year to another, or other specified period; and
(2) Required that excess amounts are to revert or be deposited
into the general revenue fund, school fund or other specified fund
or account.
(b)(1) If a statutory provision provides that only a specified
amount is allowed to remain in a fund from one fiscal year to
another,
the treasurer shall transfer the excess amount, as of the
date specified by the provision,
no later than the fifteenth day of
August of each year and give written notice of the transfer to all
spending units that are authorized to use the fund or account.
(2) If a statutory provision provides for the transfer of
excess amounts at a time other than the end of a fiscal year, the
treasurer shall transfer the specified excess amounts within
fifteen days of the time provided.
NOTE: The purpose of this bill is to require the State
Treasurer to transfer amounts required by the Legislature from
statutorily created funds or accounts.
This section is new; therefore, strike-throughs and
underscoring have been omitted.