This bill proposes the addition of a new section, 7-20-8a, to the Code of West Virginia, 1931, which establishes an operational sinking fund. The fund will be financed through a portion of impact fees collected under the existing law, aimed at supporting the expansion of public services in response to community growth. The bill allows for the use of already collected funds in the same manner and sets a limit on the operational funds, capping them at 25% of the total impact fee assessed.

Furthermore, the bill specifies that the operational impact fees can be utilized for all county operations, with the exception of schools. The new section is set to take effect immediately upon passage. Overall, the legislation seeks to enhance the financial resources available for county operations related to growth while ensuring that the funds are managed within defined parameters.

Statutes affected:
Introduced Version: 7-20-8a