H. B. 4715
(By Delegate Dalton)
[Introduced February 25, 2000; referred to the
Committee on Finance.]
A BILL to amend article fifteen, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, by
adding thereto a new section, designated section thirty-a,
relating to dedicating sixteen and six-tenths percent of the
consumers sales tax to the reserve fund of the public
employees insurance agency and to the benefit fund of the
state teachers retirement system.
Be it enacted by the Legislature of West Virginia:
That article fifteen, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
thirty-a, to read as follows:
ARTICLE 15. CONSUMERS SALES TAX.
§11-15-30a. Dedication of sixteen and six-tenths percent of tax imposed to public employees insurance agency and
teachers retirement system.
Notwithstanding any other provision of this code to the
contrary, on and after the first day of July, two thousand, eight
and three-tenths percent of the proceeds of the tax imposed by this
article shall be dedicated and transferred to the reserve fund of
the public employees insurance agency created by the provisions of
section twenty-five, article sixteen, chapter five of this code;
and eight and three-tenths percent of the proceeds of the tax
imposed by this article shall be dedicated and transferred to the
benefit fund of the state teachers retirement system created by the
provisions of section eighteen, article seven-a, chapter eighteen
of this code.
NOTE: The purpose of this bill is to dedicate one cent of
each six cents of the consumers sales tax to the reserve fund of
the public employees insurance agency and the benefit fund of the
state teachers retirement system. This is eight and three-tenths
percent of the imposed tax to each fund.
§11-15-30a is new; therefore, strike-throughs and
underscoring have been omitted.