The bill aims to establish a framework for condition-based emergency funding for financially distressed counties in West Virginia by introducing two new sections to the Code of West Virginia: 18-2-5i and 18-2E-5b. Under section 18-2-5i, counties with reserve funding below five percent will be eligible to apply for loans from the newly created "Temporary Shortfall Supplement Fund for County Boards of Education." The bill outlines the conditions under which counties can access these funds, including the requirement to honor personnel obligations and essential operating expenses, as well as the necessity for counties to repay the funds with interest by a specified deadline. Additionally, the bill mandates that counties adhere to reporting requirements and implement fiscal reporting systems to maintain eligibility for the funds.

Section 18-2E-5b further details the establishment and management of the Temporary Shortfall Supplement Fund, allowing the State Board of Education to allocate funds to address temporary shortfalls in county board funding. It specifies that any unspent funds will revert to the state general revenue fund after a designated period. The bill also includes provisions for the removal of county officers or board members for misconduct related to financial mismanagement, establishing a process for proffering charges against them. Overall, the legislation seeks to provide a structured approach to assist financially distressed counties while ensuring accountability and oversight.

Statutes affected:
Introduced Version: 18-2-5i, 18-2E-5b