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Introduced Version House Bill 2766 History

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H. B. 2766

 

                        (By Mr. Speaker, (Mr. Armstead) and Delegate Miley))

                        [By Request of the Executive]

                        [Introduced February 16, 2015; referred to the

                        Committee on Finance.]

 

 

 

A BILL expiring funds to the unappropriated balance in the State Fund, General Revenue, for the fiscal year ending June 30, 2015, in the amount of $5,650,000 from the Joint Expenses, fund 0175, fiscal year 2008, organization 2300, appropriation 64200, and in the amount of $15,000,000 from the Joint Expenses, fund 0175, fiscal year 2009, organization 2300, appropriation 64200, and in the amount of $251,657.05 from the Department of Health and Human Resources, Division of Human Services, TRIP Fund, fund 5070, fiscal year 2015, organization 0511.

            Whereas, The Governor submitted to the Legislature the Executive Budget Document, dated January 14, 2015, which included a statement of the State Fund, General Revenue, setting forth therein the cash balance as of July 1, 2014, and further included the estimate of revenues for fiscal year 2015, less net appropriation balances forwarded and regular appropriations for the fiscal year 2015; and

            Whereas, The Secretary of the Department of Revenue has submitted a monthly General Revenue Fund Collections Report for the first six months of fiscal year 2015 as prepared by the State Budget Office; and

            Whereas, This report demonstrates that the State of West Virginia has experienced a revenue shortfall of approximately $34 million for the first six months of fiscal year 2015, as compared to the monthly revenue estimates for the first six months of the fiscal year 2015; and

            Whereas, Current economic and fiscal trends will result in projected year-end revenue deficits, including potential significant shortfalls in Severance Tax, and smaller shortfalls in Personal Income Tax and Consumer Sales and Use Tax; and

            Whereas, Projected year-end revenue surpluses in various other General Revenue sources will only offset a small portion of these deficits; and

            Whereas, The total projected year-end revenue deficit for the General Revenue Fund is estimated at $80 million; and

            Whereas, On December 17, 2013, the Governor issued a memorandum to Cabinet Secretaries implementing temporary restrictions on general revenue funded hiring to help reduce expenditures and close the anticipated budget gap in fiscal year 2014; and

            Whereas, on July 1, 2014, this temporary restriction on general revenue funded hiring was extended to help close the anticipated budget gap in fiscal year 2015; and

            Whereas, The Constitution of the State of West Virginia requires that there be a balance between the State's revenues and expenditures for each fiscal year; therefore

Be it enacted by the Legislature of West Virginia:

            That the balance of the funds available for expenditure in the fiscal year ending June 30, 2015, in the Joint Expenses, fund 0175, fiscal year 2008, organization 2300, appropriation 64200, be decreased by expiring the amount of $5,650,000, and in the Joint Expenses, fund 0175, fiscal year 2009, organization 2300, appropriation 64200, be decreased by expiring the amount of $15,000,000, and in the Department of Health and Human Resources, Division of Human Services, TRIP Fund, fund 5070, fiscal year 2015, organization 0511, by decreased by expiring the amount of $251,657.05, all to the unappropriated balance of the State Fund, General Revenue, to be available during the fiscal year ending June 30, 2015.

            The purpose of this supplemental appropriation bill is to expire items from the aforesaid accounts to the General Revenue unappropriated balance for the fiscal year 2015.

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