SB 607
Expiring funds to unappropriated surplus balance in State Fund from Economic Development Fund
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
Senate Bill 607 proposes to transfer $25 million from the Economic Development Fund to the State Fund, General Revenue. This transfer would reduce the amount of money available for spending in the Economic Development Fund for the fiscal year ending June 30, 2025. The funds would be placed in an unappropriated surplus balance within the State Fund, making them available for future appropriations. This action aims to shift funds between state revenue sources.
Key provisions
- Transfers $25,000,000 from the Economic Development Fund.
- Directs funds to the unappropriated surplus balance of the State Fund, General Revenue.
- Applies to fiscal year 2025.
- Relates to fund 9060, organization 0944.
- Affects the Economic Development Authority and Economic Development Fund.
Who is affected
- Economic Development Authority
- Economic Development Fund
- State Fund, General Revenue
- West Virginia State Government
Fiscal impact
The bill will reduce the amount of funds available in the Economic Development Fund for fiscal year 2025.
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