WEST VIRGINIA LEGISLATURE

2024 FIRST EXTRAORDINARY SESSION

Introduced

House Bill 111

By Delegates Hanshaw (Mr. Speaker) and Hornbuckle
(By Request of the Executive)

[Introduced May 19, 2024]

A BILL expiring funds to the unappropriated surplus balance in the State Fund, General Revenue, for the fiscal year ending June 30, 2024, in the amount of $83,215,351.25 from the Department of Revenue, State Budget Office, PEIA Rainy Day Fund, fund 7402, fiscal year 2024, organization 0703.   

WHEREAS, The Governor finds that the account balance in the Department of Revenue, State Budget Office, PEIA Rainy Day Fund, fund 7402, fiscal year 2024, organization 0703 exceeds that which is necessary for the purposes for which the account was established; and

WHEREAS, The Governor submitted the Executive Budget Document to the Legislature on January 10, 2024, containing a statement of the State Fund, General Revenue, setting forth therein the cash balance as of July 1, 2023, and further included the estimate of revenue for the fiscal year 2024, less net appropriation balances forwarded and regular and surplus appropriations for the fiscal year 2024, and further included recommended supplemental appropriations from the balance of the State Fund, General Revenue;  

WHEREAS, The Governor submitted to the Legislature an Executive Message dated May 19, 2024, which included a revised estimate of revenues for the State Fund, General Revenue, for the fiscal year 2024; and

WHEREAS, It appears from the Executive Budget document, Statement of the State Fund, General Revenue and the Executive message, there remains an unappropriated surplus balance in the State Treasury which is available for appropriation during the fiscal year ending June 30, 2024; therefore

Be it enacted by the Legislature of West Virginia:

That the balance of the funds available for expenditure in the fiscal year ending June 30, 2024, in the Department of Revenue, State Budget Office, PEIA Rainy Day Fund, fund 7402, fiscal year 2024, organization 0703, be decreased by expiring the amount of $83,215,351.25 to the unappropriated surplus balance of the State Fund, General Revenue to be available for appropriation during the fiscal year ending June 30, 2024.

NOTE: The purpose of this supplemental appropriation bill is to expire funds from the aforesaid account to the unappropriated surplus balance of the State Fund, General Revenue for the fiscal year 2024.