Bill Summary – FastDemocracy

WEST VIRGINIA LEGISLATURE
FIRST EXTRAORDINARY SESSION
                     Enrolled Senate Bill 1011
      By Senators Blair (Mr. President) and Woelfel [By Request of the Executive]
   [Passed May 20, 2024; to take effect May 22, 2024]
    Enr SB 1011
 AN ACT 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 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 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.
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