WVC 21 A- 8 - 16
§21A-8-16. Loans to Unemployment Compensation Fund from Revenue
Center Construction Fund
(a) Notwithstanding any provision of this code to the contrary
and subject to the provisions of this section, the Governor is
hereby authorized, by executive order, after first notifying the
presiding officers of both houses of the Legislature in writing, to
borrow funds from the Revenue Center Construction Fund created by
chapter nineteen, acts of the Legislature, first extraordinary
session, two thousand six, for deposit into the Unemployment
Compensation Fund, created in section one of this article, to be
expended in accordance with this code. The amount of funds
borrowed and outstanding under this section may not exceed $20
million at any one time, or the amount the Governor determines is
necessary to adequately sustain the balance in the Unemployment
Compensation Fund at a minimum of $20 million, whichever is less.
(b) Notwithstanding the provisions of subsection (a) of this
section, the Governor may not borrow funds from the Revenue Center
Construction Fund unless the Executive Director of Workforce West
Virginia has projected that the balance in the state's Unemployment
Compensation Fund will be less than $20 million at any time during
the next thirty days.
(c) Any funds borrowed pursuant to this subsection shall be
repaid from funds on deposit in the Unemployment Trust Fund in
excess of $20 million or from other funds legally available for
such purpose, without interest, and redeposited to the credit of the Revenue Center Construction Fund within one-hundred-eighty days
of their withdrawal.
(d) No amounts may be borrowed pursuant to the provisions of
this section after September 1, 2011.
Note: WV Code updated with legislation passed through the 2012 1st Special Session