WEST virginia legislature

2025 regular session

Introduced

Senate Bill 775

By Senators Smith (Mr. President) and Woelfel

[By Request of the Executive]

[Introduced March 17, 2025; referred
to the Committee on Finance]

A BILL expiring funds to the unappropriated surplus balance in the State Fund, General Revenue, for the fiscal year ending June 30, 2025, in the amount of $28,564,089.61 from the balance of moneys remaining as an unappropriated balance in the West Virginia Economic Development Authority, Economic Development Project Bridge Loan Fund, fund 9066, organization 0944.

WHEREAS, The Governor submitted the Executive Budget Document to the Legislature on February 12, 2025, containing a statement of the State Fund, General Revenue, setting forth therein the cash balance as of July 1, 2024, and further included the estimate of revenues for the fiscal year 2025, less net appropriation balances forwarded and regular and surplus appropriations for the fiscal year 2025, and further included recommended expirations to the unappropriated surplus balance of the State Fund, General Revenue; and

WHEREAS The Governor finds that the account balance in the West Virginia Economic Development Authority, Economic Development Project Bridge Loan Fund, fund 9066, organization 0944 exceeds that which is necessary for the purposes for which the account was established; 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, 2025, in the West Virginia Economic Development Authority, Economic Development Project Bridge Loan Fund, fund 9066, organization 0944, be decreased by expiring the amount of $28,564,089.61 to the unappropriated surplus balance of the State Fund, General Revenue to be available for appropriation during the fiscal year ending June 30, 2025.

NOTE: The purpose of this supplemental appropriation bill is to expire funds from the aforesaid account to the unappropriated surplus balance of the State Fund, General Revenue for expenditure during the fiscal year 2025.