This bill amends West Virginia Code §11-8-16 to allow counties to retain surplus funds collected from voter-approved excess levy requests. Specifically, it introduces new language stating that any surplus accruing beyond the amounts specified in the levy call and approved by voters shall remain with the county that imposed the levy. These surplus funds will be accounted for in the county's general fund and can be expended like other general fund moneys.

Additionally, the bill makes several changes to the language regarding the issuance of bonds and the conditions under which levies may be imposed. It modifies the requirement for local levying bodies, allowing them to "may" instead of "shall" issue bonds upon approval of the proposed increased levy. The bill also clarifies that levies may not continue for more than five years without resubmission to voters and adjusts the language concerning the maximum rates for various property classes. Overall, the bill aims to provide counties with greater financial flexibility regarding surplus levy funds.

Statutes affected:
Introduced Version: 11-8-16