This bill proposes to expire a total of $28,564,089.61 from the West Virginia Economic Development Authority's Economic Development Project Bridge Loan Fund (fund 9066, organization 0944) and transfer it to the unappropriated surplus balance of the State Fund, General Revenue for the fiscal year ending June 30, 2025. The Governor has determined that the current balance in the Economic Development Project Bridge Loan Fund exceeds the necessary amount for its intended purposes, prompting this action.

The bill is part of the Executive Budget Document submitted to the Legislature, which outlines the cash balance and revenue estimates for the fiscal year 2025. By expiring these funds, the bill aims to make them available for appropriation during the same fiscal year, thereby enhancing the overall financial flexibility of the State Fund, General Revenue.