Senate Bill No. 470

(By Senators Cole (Mr. President) and Kessler,

By Request of the Executive)

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[Introduced February 12, 2015; referred to the Committee on Finance.]

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A BILL making a supplementary appropriation of Lottery Net Profits from the balance of moneys remaining as an unappropriated balance in Lottery Net Profits to the State Department of Education - School Building Authority - Debt Service Fund, fund 3963, fiscal year 2015, organization 0402, by supplementing and amending the appropriations for the fiscal year ending June 30, 2015.

            Whereas, The Governor submitted the Executive Budget Document to the Legislature on January 14, 2015, which included a Statement of the Lottery Fund setting forth therein the unappropriated cash balance as of July 1, 2014, and further included the estimate of revenues for the fiscal year 2015, less regular appropriations for fiscal year 2015; and

            Whereas, It appears from the Governor's Statement of Lottery Fund, there now remains an unappropriated balance in the State Treasury which is available for appropriation during the fiscal year ending June 30, 2015; therefore

Be it enacted by the Legislature of West Virginia:

            That the total appropriation for the fiscal year ending June 30, 2015, to fund 3963, fiscal year 2015, organization 0402, be supplemented and amended to read as follows:

TITLE II - APPROPRIATIONS.

Sec. 4. Appropriations from lottery net profits.

288-State Department of Education -

School Building Authority -

Debt Service Fund

(WV Code Chapter 18)

Fund 3963 FY 2015 Org 0402

                                                                                                       Approp-                Lottery

                                                                                                         riation                  Funds

1          Debt Service - Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . .    31000        $         7,513,455

2          Directed Transfer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    70000                 10,486,545

3                       Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                             $18,000,000

            The School Building Authority shall have the authority to transfer between the above appropriations in accordance with W.Va. Code §29-22-18.

            The purpose of this supplementary appropriation bill is to supplement, amend, decrease an existing item, and add a new item of appropriation in the aforesaid account for the designated spending unit for expenditure during the fiscal year 2015.