HB 4126
To modify the funding distribution to the state park endowment fund and the State Parks Operational Fund
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes how royalties from state-owned mineral rights beneath the Ohio River and its tributaries are distributed. Currently, 50% goes to the State Parks and Recreation Endowment Fund, and 50% goes to the State Parks Operational Fund. However, if the endowment fund reaches $100 million, 100% of those royalties will be directed to the State Parks Operational Fund, and if it falls below that amount, the distribution reverts to 50/50. The funds are intended to support maintenance, repairs, and improvements to West Virginia’s state parks, forests, and rail trails.
Key provisions
- 50% of royalties from mineral rights under the Ohio River and tributaries will be deposited into the State Parks and Recreation Endowment Fund.
- 50% of royalties from mineral rights under the Ohio River and tributaries will be deposited into the State Parks Operational Fund.
- If the endowment fund reaches $100 million, 100% of royalties will go to the State Parks Operational Fund.
- If the endowment fund falls below $100 million, the royalty distribution returns to 50/50.
- The fund can be used for maintenance, repair, and improvement of state parks and trails.
- The fund can be used for purchasing fixtures, furnishings, and equipment for state parks and trails.
- The board of trustees can invest fund assets and accumulate investment income.
- The fund can be used as collateral for the State Parks Enhancement Loan Insurance Program.
Who is affected
- West Virginia State Parks and Recreation Endowment Fund
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