SB258 HFIN AM 4-7AC
The Committee on Finance moved to amend the bill on page one,
following the enacting clause, by striking out the remainder of the
bill and inserting in lieu thereof the following:
"
ARTICLE 8. LEVIES.
§11-8-26. Unlawful expenditures by local fiscal body.
(a) Except as provided in sections fourteen-b, twenty-five-a
and twenty-six-a of this article, a local fiscal body shall not
expend money or incur obligations:
(1) In an unauthorized manner;
(2) For an unauthorized purpose;
(3) In excess of the amount allocated to the fund in the levy
order; or
(4) In excess of the funds available for current expenses.
(b) Notwithstanding the foregoing and any other provision of
law to the contrary, a local fiscal body or its duly authorized
officials shall may not be penalized for a casual deficit which
does not exceed its approved levy estimate by more than three
percent: Provided, That such casual deficit be is satisfied in the
levy estimate for the succeeding fiscal year: Provided, however,
That in calculating a deficit for purposes of this section, account
shall not be taken of any amount for which the local fiscal body
may be liable for the unfunded actuarial accrued liability of the
West Virginia Retiree Health Benefit Trust Fund or any amount
allocated to the local fiscal body as an employer annual required contribution that exceeds the minimum annual employer payment
component of the contribution, all as provided under article
sixteen-d, chapter five of this code.
".