Bill Text: WV SB640 | 2024 | Regular Session | Introduced
Bill Title: Supplementing and amending appropriations to Department of Economic Development, Office of Secretary
Spectrum: Bipartisan Bill
Status: (Introduced) 2024-02-05 - To Finance [SB640 Detail]
Download: West_Virginia-2024-SB640-Introduced.html
WEST virginia legislature
2024 regular session
Introduced
Senate Bill 640
By Senators Blair (Mr. President) and Woelfel
[By Request of the Executive]
[Introduced February 5, 2024; referred
to the Committee on Finance]
A BILL supplementing and amending the appropriations of public moneys out of the Treasury from the balance of moneys remaining as an unappropriated surplus balance in the State Fund, General Revenue, to the Department of Economic Development – Office of the Secretary, fund 0256, fiscal year 2024, organization 0307, by supplementing and amending the appropriations for the fiscal year ending June 30, 2024, by adding a new item of appropriation.
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 the State Fund, General Revenue, there now remains an unappropriated surplus balance in the Treasury which is available for appropriation during the fiscal year ending June 30, 2024; therefore
Be it enacted by the Legislature of West Virginia:
That Chapter 8, Acts of the Legislature, Regular Session, 2023, known as the budget bill, to fund 0256, fiscal year 2024, organization 0307, be supplemented and amended to read as follows:
Title II – Appropriations.
Section 1. Appropriations from general revenue.
DEPARTMENT OF ECONOMIC DEVELOPMENT
- - Department of Economic Development –
Office of the Secretary
(W.V. Code Chapter 5B)
Fund 0256 FY 2024 Org 0307
Personal Services and Employee Benefits 00100 $ 4,261,881
Unclassified 09900 108,055
Current Expenses 13000 4,738,464
National Youth Science Camp 13200 241,570
Local Economic Development Partnerships (R) 13300 1,250,000
ARC Assessment 13600 152,585
Global Economic Development Partnerships (R) 20201 150,000
Guaranteed Work Force Grant (R) 24200 988,088
Directed Transfer 70000 15,000,000
Directed Transfer – Surplus 70099 75,000,000
Mainstreet Program 79400 173,222
Marshall University Research Corporation 80701 500,000
BRIM Premium 91300 3,157
Hatfield McCoy Recreational Trail 96000 198,415
Total $ 102,765,437
Any unexpended balances remaining in the appropriations for Unclassified – Surplus (fund 0256, appropriation 09700), Partnership Grants (fund 0256, appropriation 13100), Local Economic Development Partnerships (fund 0256, appropriation 13300), Global Economic Development Partnerships (fund 0256, appropriation 20201), and Guaranteed Work Force Grant (fund 0256, appropriation 24200) at the close of the fiscal year 2023 are hereby reappropriated for expenditure during the fiscal year 2024.
From the above appropriation for Current Expenses (fund 0256, appropriation 13000), $50,000 shall be used for the Western Potomac Economic Partnership, $100,000 shall be used for Advantage Valley, $750,000 shall be used for the Robert C. Byrd Institute, $548,915 shall be used for West Virginia University, and $298,915 shall be used for Southern West Virginia Community and Technical College for the Mine Training and Energy Technologies Academy.
The above appropriation to Local Economic Development Partnerships (fund 0256, appropriation 13300) shall be used by the Department of Economic Development for the award of funding assistance to county and regional economic development corporations or authorities participating in the Certified Development Community Program developed under the provisions of W.V. Code §5B-2-14. The Department of Economic Development shall award the funding assistance through a matching grant program, based upon a formula whereby funding assistance may not exceed $30,000 per county served by an economic development or redevelopment corporation or authority.
The above appropriation for Directed Transfer (fund 0256, appropriation 70000) shall be transferred to the Economic Enhancement Grant Fund (fund 3382).
From the above appropriation for Directed Transfer – Surplus (fund 0256, appropriation 70099) $25,000,000 shall be transferred to the Economic Development Fund (fund 9060) and $50,000,000 shall be transferred to the Economic Enhancement Grant Fund (fund 3382).
NOTE: The purpose of this supplemental appropriation bill is to add an item of appropriation in the aforesaid account for the designated spending unit for expenditure during the fiscal year 2024.
