HB 2661
Providing equal share of funds from the fire and casualty premium tax to part volunteer departments
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to ensure that part-volunteer fire departments receive an equal share of funds from the state’s fire and casualty premium tax. Currently, these funds are allocated to municipal policemen’s and firemen’s pension and relief funds, as well as the Teachers Retirement System Reserve Fund and volunteer fire companies. The bill establishes a special account for these funds and outlines a specific distribution plan, including quarterly payments to volunteer fire companies. It also addresses historical allocation errors and provides for a one-time transfer of funds to correct past imbalances.
Key provisions
- Increases the fire and casualty premium tax to one percent.
- Allocates 10 percent of tax revenue to the Teachers Retirement System Reserve Fund.
- Allocates 25 percent of tax revenue to the Fire Protection Fund for distribution to volunteer fire departments.
- Allocates 65 percent of tax revenue to the Municipal Pensions and Protection Fund.
- Requires municipalities to report on the number of firefighters working at least 100 hours per month.
- Establishes a process for quarterly distribution of funds to volunteer fire companies.
- Addresses historical allocation errors and provides for a one-time transfer of funds to correct past imbalances.
- Specifies that volunteer fire companies receive an equal share of the allocated revenue.
Who is affected
- Volunteer Fire Departments
- Part-Volunteer Fire Departments
- Municipalities
- Firefighters
- Insurance Companies
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