This bill proposes the addition of a new section, 12-2-2a, to the Code of West Virginia, which mandates the transfer of 50 percent of the unencumbered balance from each reappropriated revenue account in the State Treasury to the General Revenue Fund. The Treasurer is required to complete this transfer within 30 days of the section's effective date, with specific exceptions outlined. Transfers are not required if they are prohibited by federal law, would necessitate repayment to the funding entity, or could jeopardize bond repayments.

Furthermore, the bill stipulates that no transfers from reappropriated revenue accounts can occur until the mandated transfer to the General Fund has been executed. This legislation aims to enhance the state's revenue by ensuring that a significant portion of unencumbered funds is allocated to the General Fund, thereby potentially increasing financial resources for state operations.

Statutes affected:
Introduced Version: 12-2-2a