Bill Text: WV HB5470 | 2024 | Regular Session | Introduced

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Bill Title: Expiring funds from Lottery Net Profits to General Revenue Surplus

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2024-03-05 - On 2nd reading, House Calendar [HB5470 Detail]

Download: West_Virginia-2024-HB5470-Introduced.html

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WEST virginia legislature

2024 regular session

Introduced

House Bill 5470

By Delegates Hanshaw (Mr. Speaker) and Hornbuckle
[By Request of the Executive]

(Introduced February 05, 2024; 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, 2024 in the amount of $35,000,000 from the balance of moneys remaining as an unappropriated balance in Lottery Net Profits.

WHEREAS, The Governor submitted the Executive Budget Document to the Legislature on January 10, 2024, containing a statement of the State Fund, General Revenue, setting forth therein the cash balance as of July 1, 2023, and further included the estimate of revenue for the fiscal year 2024, less net appropriation balances forwarded and regular and surplus appropriations for the fiscal year 2024, and further included recommended expirations to the unappropriated surplus balance of the State Fund, General Revenue; and

WHEREAS, It appears from the Governor’s Statement of Lottery Net Profits Fund, there now remains an unappropriated balance in the State Treasury which is available for expiration during the fiscal year ending June 30, 2024; therefore

Be it enacted by the Legislature of West Virginia:

That the balance of the funds remaining as an unappropriated balance for the fiscal year ending June 30, 2024 in Lottery Net Profits be decreased by expiring the amount of $35,000,000 to the unappropriated surplus balance of the State Fund, General Revenue to be available for appropriation during the fiscal year ending June 30, 2024.

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 2024.