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Chapter 7     Entire Code
‹ Chapter 06C  |  Chapter 07A › Printer Friendly Versions
Chapter 7  |  Article 7 - 21  |  Section 2
WVC 7- CHAPTER 7. COUNTY COMMISSIONS AND OFFICERS.
WVC 7 - 21 - ARTICLE 21. COUNTY FINANCIAL STABILIZATION FUND ACT.

WVC 7 - 21 - 1 §7-21-1. Short title.
This article may be known and cited as the "County Financial Stabilization Fund Act."

WVC 7 - 21 - 2 §7-21-2. Findings and declarations.
The Legislature finds and declares that:

(1) County government should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and

(2) The creation, maintenance and use of a financial stabilization fund will provide counties with assistance to meet these challenges, as well as enable them to improve their financial management and practices.

WVC 7 - 21 - 3 §7-21-3. Budget stabilization fund; creation; appropriation; maximum.
(a) A county commission may create a "financial stabilization fund" by a majority vote of the members. The fund may receive appropriations, gifts, grants and any other funds made available.

(b) The county commission may appropriate a sum to the fund from any surplus in the general fund at the end of each fiscal year or from any other money available.

(c) The amount of money in the fund may not exceed thirty percent of the county's most recent general fund budget, as originally adopted. When the fund exceeds the thirty percent, the county commission shall transfer the excess to any fund it considers appropriate.

WVC 7 - 21 - 4 §7-21-4. Fund investment; usage.
(a) The county commission may invest the money in the fund as it considers appropriate, with the earnings retained by the fund.

(b) The county commission may appropriate money in the financial stabilization fund upon a majority vote for any of the following purposes:

(1) To cover a general fund shortfall; or

(2) Any other purpose the commission considers appropriate.

Note: WV Code updated with legislation passed through the 2016 Regular Session
The West Virginia Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.


Recent legislation affecting the Code

Citation Year/Session Short Title
§ 7 - 5 - 24 - (Amended Code)
SENATE BILL - 27
PASSED - Regular Session

SB27 SUB2 enr  (Uploaded - 03/07/2016)
Permitting county commissions hire outside attorneys for collection of taxes through courts
§ 7 - 1 - 3PP - (New Code)
SENATE BILL - 298
PASSED - Regular Session

SB298 SUB1 ENR  (Uploaded - 03/17/2016)
Allowing restaurants, private clubs and wineries sell alcoholic beverages on Sundays
§ 7 - 3 - 3 - (Amended Code)
SENATE BILL - 306
PASSED - Regular Session

SB306 enr  (Uploaded - 03/16/2016)
Permitting sale of county or district property online
§ 7 - 1 - 3QQ - (New Code)
SENATE BILL - 686
PASSED - Regular Session

SB686 SUB1 ENR  (Uploaded - 03/23/2016)
Authorizing local governing authorities hold sanctioned motor vehicle races on roads, streets or airports under their jurisdiction
§ 7 - 1 - 3PP - (New Code)
HOUSE BILL - 2801
PASSED - Regular Session

HB2801 SUB ENR  (Uploaded - 03/09/2016)
Permitting county commissions and municipalities to designate areas of special interest which will not affect the use of property in those areas
§ 7 - 1 - 3RR - (New Code)
§ 7 - 1 - 7 - (Amended Code)
HOUSE BILL - 2904
PASSED - Regular Session

HB2904 SUB ENR  (Uploaded - 03/15/2016)
Requiring the clerk of a county commission to maintain a county ordinance book
§ 7 - 3 - 9 - (Amended Code)
HOUSE BILL - 4265
PASSED - Regular Session

HB4265 SUB ENR  (Uploaded - 03/11/2016)
Relating to payment by the West Virginia Municipal Bond Commission or state sinking fund commission or the governing body issuing the bonds
§ 7 - 18 - 1 - (Amended Code)
§ 7 - 18 - 3 - (Amended Code)
HOUSE BILL - 4377
PASSED - Regular Session

HB4377 SUB ENR  (Uploaded - 03/09/2016)
Eliminating exemption from hotel occupancy taxes on rental of hotel and motel rooms for thirty or more consecutive days
§ 7 - 11 B- 3 - (Amended Code)
§ 7 - 11 B- 4 - (Amended Code)
§ 7 - 11 B- 14 - (Amended Code)
§ 7 - 11 B- 21 - (Amended Code)
§ 7 - 11 B- 22 - (Amended Code)
§ 7 - 11 B- 29 - (New Code)
§ 7 - 11 B- 30 - (New Code)
§ 7 - 22 - 5 - (Amended Code)
§ 7 - 22 - 7 - (Amended Code)
§ 7 - 22 - 8 - (Amended Code)
§ 7 - 22 - 12 - (Amended Code)
§ 7 - 22 - 14 - (Amended Code)
§ 7 - 22 - 23 - (New Code)
§ 7 - 22 - 24 - (New Code)
HOUSE BILL - 4612
PASSED - Regular Session

HB4612 SUB ENR  (Uploaded - 03/11/2016)
Relating generally to tax increment financing and economic opportunity development districts
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