West Virginia House Bill HB102

West Virginia 2023 1st Special Session

• Introduced: 8/6/23
• Refer: 8/6/23

Caption

Supplementing and amending the appropriations to the Department of Revenue, Office of the Secretary

Impact

The enactment of HB102 will result in an alteration of the revenue allocation, particularly by noting the newly created line item for the Revenue Shortfall Reserve Fund within the Department of Revenue. This can have significant implications for financial management at the state level, as it allows for better allocation and forecasting of state funds. Increased appropriations in this area may help cushion the state’s finances against fiscal shortfalls and ensure that necessary programs and services remain funded into the next fiscal year.

Summary

House Bill 102 focuses on the financial adjustments necessary for the State of West Virginia by supplementing and amending the appropriations of public moneys out of the Treasury. Specifically, it targets appropriations related to the Department of Revenue, aiming to provide a clearer financial framework for the fiscal year ending June 30, 2024. The bill indicates that there is an unappropriated balance available, based on the latest estimates provided by the Governor’s Executive Budget Document and subsequent executive messages, confirming the financial viability of these amendments.

Sentiment

General sentiment surrounding HB102 has been aimed at ensuring fiscal responsibility and preparedness. Lawmakers seem to view the bill positively, recognizing the importance of proper financial adjustments to meet the state's obligations. There does not appear to be substantial opposition to this bill during its introduction phase, which indicates a degree of consensus among the legislative body regarding the necessity of such appropriations and the importance of maintaining a balanced budget.

Contention

While there may not be overt public contention regarding HB102, nuanced discussions could arise surrounding the implications of increased appropriations and how these funds will be managed by the Department of Revenue. Future debates may focus on priorities concerning state revenue use, particularly if economic conditions change, or if the appropriated funds may favor specific sectors or projects over others. Overall, however, the bill primarily serves a technical purpose in budgeting and appropriation maintenance.