SB331 HFAT Criss 2-28

Akers 3254

Delegate Criss moves to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Com. Sub. For S.B. 331 - “A BILL to amend and reenact §7-6-5a of the Code of West Virginia, 1931, as amended, and to amend and reenact §7-21-3 of said code, all relating to eliminating the cap on the maximum amount of money a county may keep in its financial stabilization fund and allowing moneys in the fund to be invested with the West Virginia Investment Management Board or the West Virginia Board of Treasury Investments; striking language imposing a cap of 50% of the most recent county general fund budget; and establishing that a county commission may, subject to certain conditions, make moneys available for investment by the Board of Treasury Investments or the Investment Management Board, provided that if the amount of money in the fund exceeds 50 percent of the county's most recent general fund budget, the county shall consider tax reduction measures.”

Adopted

Rejected