West Virginia 2024 Regular Session Status: Enacted 5 R cosponsors

SB 331 — Eliminating cap on maximum amount of money in county's financial stabilization fund

Last action — Chapter 226, Acts, Regular Session, 2024

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House of Delegates
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 11, 2024. Enacted.

Prognosis

Likely to advance 80% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 5 sponsors

    1 primary, 4 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (5 R).

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

1 added · 7 removed

Plain-language change summary

The amendment to Bill SB 331 removes the previous limit on the amount of money that a county can hold in its financial stabilization fund, which was capped at 50% of the most recent county general fund budget. This change allows counties to potentially keep more funds on hand for emergencies and makes it easier for them to invest that money with state investment boards. This is important because it could enhance local financial stability while also providing opportunities to grow those funds through investments. Additionally, if a county does exceed the previous cap, it will be required to explore tax reduction measures, promoting fiscal responsibility.

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Latest
SB331 SUB H FIN AM #1Akers 3254The Committee on Finance moved to amend the committee substitute bill on page 1, after the enacting clause, by striking out the remainder of the bill and inserting in lieu thereof the following:
SB331 HFAT Criss 2-28Akers 3254 Delegate Criss moves to amend the bill by striking out the title and substituting therefor a new title, to read as follows: Com.
“ARTICLE 6.
Sub.
COUNTY DEPOSITORIES.
For S.B.
§7-6-5a.
331 - “A BILL to amend and reenact §7-6-5a of the Code of West Virginia, 1931, as amended, and to amend and reenact §7-21-3 of said code, all relating to eliminating the cap on the maximum amount of money a county may keep in its financial stabilization fund and allowing moneys in the fund to be invested with the West Virginia Investment Management Board or the West Virginia Board of Treasury Investments;
County treasurer authorized to make funds available to state Board of Investments investments;
striking language imposing a cap of 50% of the most recent county general fund budget;
allocation of income.
and establishing that a county commission may, subject to certain conditions, make moneys available for investment by the Board of Treasury Investments or the Investment Management Board, provided that if the amount of money in the fund exceeds 50 percent of the county's most recent general fund budget, the county shall consider tax reduction measures.”    AdoptedRejected 
Notwithstanding any other provision of this code, when it appears to any of the various fiscal bodies of the county that funds on deposit in its demand deposit account exceed the current requirements or demands, and it further be determined by the county treasurer that the available interest rate offered by an acceptable depository in such treasurer's county be less than the interest rate, net of any administrative fees, referred to in article six, chapter twelve of this code, offered it through the state Board of Investments investments, the county treasurer may, with the approval in writing of each fiscal body whose funds are involved, make such funds available to the state Board of Investments for investment in accordance with the provisions of said article six, chapter twelve of the code for investment by the West Virginia Investment Management Board in accordance with the provisions of §12-6-1 et seq.
of this code or the West Virginia Board of Treasury Investments in accordance with the provisions of §12-6C-1 et seq.
of this code.Any income earned on such investment shall be allocated by such treasurer to the fiscal body whose funds were made available, such allocation to be made in accordance with the accounting and allocation principles established by the Board of Investments the West Virginia Investment Management Board or the West Virginia Board of Treasury Investments, as applicable.
ARTICLE 21.
COUNTY FINANCIAL STABILIZATION FUND ACT.
§7-21-3.
Budget stabilization fund;
creation;
appropriation;
maximum investments.
(a) A county commission may create a financial stabilization fund by a majority vote of the members.
The fund may receive appropriations, gifts, grants, and any other funds made available.(b) The county commission may appropriate a sum to the fund from any surplus in the General Fund at the end of each fiscal year or from any other money available.(c) The amount of money in the fund may not exceed 50 percent of the county's most recent General Fund budget, as originally adopted.
When the fund exceeds the 50 percent, the county commission shall transfer the excess to any fund it considers appropriate.(c) The county commission may, in the exercise of its discretion, make the moneys in the fund available for investment by the Board of Treasury Investments or the Investment Management Board in accordance with the provisions of §7-6-5a of this code:
Provided, That if the amount of money in the fund exceeds 50 percent of the county's most recent General Fund budget, the county shall consider tax reduction measures.”  AdoptedRejected
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How this bill changes current law

4 changes Share ↗

Compared against the W. Va. Code as published AI-generated reading aid — verify against the official bill.

The bill amends existing law to update the terminology for investments and clarify the financial stabilization fund provisions.

  • §7-6-5a

    the state investments → the state Board of Investments investments

    The term 'state investments' is replaced with 'state Board of Investments investments' for clarity.

  • §7-6-5a

    the provisions of said article six, chapter twelve of the code for investment by the West Virginia Investment Management Board → the provisions of said article six, chapter twelve of this code for investment by the West Virginia Investment Management Board

    Clarifies the reference to the investment provisions of the specific article in the code.

  • §7-6-5a

    the accounting and allocation principles established by the West Virginia Investment Management Board or the West Virginia Board of Treasury Investments, as applicable. → the accounting and allocation principles established by the Board of Investments the West Virginia Investment Management Board or the West Virginia Board of Treasury Investments, as applicable.

    Adds 'the Board of Investments' into the list of entities responsible for accounting and allocation principles.

  • §7-21-3

    the amount of money in the fund exceeds 50 percent of the county's most recent General Fund budget → the amount of money in the fund may not exceed 50 percent of the county's most recent General Fund budget, as originally adopted. When the fund exceeds the 50 percent, the county commission shall transfer the excess to any fund it considers appropriate.

    Establishes a formal process for handling funds that exceed the 50 percent threshold of the county's budget.

Action History

  1. Chapter 226, Acts, Regular Session, 2024

  2. Approved by Governor 3/27/24

  3. Approved by Governor 3/27/24 - House Journal

  4. Approved by Governor 3/27/24 - Senate Journal

  5. To Governor 3/6/2024 - House Journal

  6. To Governor 3/6/2024

  7. House received Senate message

  8. Completed legislative action

  9. Communicated to House

  10. Effective from passage (Roll No. 347)

  11. Senate concurred in House amendments and passed bill (Roll No. 347)

  12. House Message received

  13. Communicated to Senate

  14. Effective from passage (Roll No. 427)

  15. Title amendment adopted (Voice vote)

  16. Passed House (Roll No. 426)

  17. Read 3rd time

  18. From House Calendar, 3rd reading, placed on Special Calendar

  19. On 3rd reading, House Calendar

  20. Placed on House Calendar

  21. On 3rd reading, Special Calendar

  22. Committee amendment adopted (Voice vote)

  23. Amendment reported by the Clerk

  24. Read 2nd time

  25. On 2nd reading, Special Calendar

  26. Read 1st time

  27. On 1st reading, Special Calendar

  28. With amendment, do pass

  29. To House Finance

  30. With amendment, do pass, but first to Finance

  31. To House Political Subdivisions

  32. To Political Subdivisions then Finance

  33. Introduced in House

  34. Ordered to House

  35. Effective from passage (Roll No. 91)

  36. Passed Senate (Roll No. 91)

  37. Read 3rd time

  38. On 3rd reading

  39. Read 2nd time

  40. On 2nd reading

  41. Read 1st time

  42. On 1st reading

  43. Committee substitute reported

  44. To Government Organization

  45. Introduced in Senate

  46. Filed for introduction

  47. To Government Organization

Sponsors

Sponsorship breakdown

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1 sponsors · 4 co-sponsors · 147 not signed on

Sponsors (1)

Co-sponsors (4)

Not signed on (147)

147 members have not signed on to this bill.

Show all 147 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

PASSAGE

Passed 96 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Republican 62004
Unaffiliated 26000
Democrat 8000
Total 96004
% of votes cast 96%0%0%4%
How each member voted (100)
Member Party Vote
Jeffries — Yea
Ross — Yea
Rowe — Yea
Forsht — Yea
Kirby — Yea
Foster — Yea
Kump — Yea
Smith — Yea
Linville — Yea
Steele — Yea
Longanacre — Yea
Griffith — Yea
Summers — Yea
Hamilton — Yea
Martin — Yea
Tully — Yea
Hardy — Yea
Warner — Yea
Nestor — Yea
Westfall — Yea
Devault — Yea
Phillips — Yea
Winzenreid — Yea
Espinosa — Yea
Householder — Yea
Fast — Yea
Evan Hansen Democrat Yea
Hollis Lewis Democrat Yea
Joey Garcia Democrat Yea
John Williams Democrat Yea
Kayla Young Democrat Yea
Mike Pushkin Democrat Yea
Sean Hornbuckle Democrat Yea
Shawn Fluharty Democrat Yea
Adam Burkhammer Republican Yea
Adam Vance Republican Yea
Andy Shamblin Republican Yea
Betsy Kelly Republican Yea
Bill Ridenour Republican Yea
Bob Fehrenbacher Republican Yea
Bryan Ward Republican Yea
Charles Sheedy Republican Not Voting
Christopher W. Toney Republican Yea
Chuck Horst Republican Yea
Clay Riley Republican Yea
D. Rolland Jennings Republican Yea
Dana Ferrell Republican Yea
Darren Thorne Republican Yea
Dave Foggin Republican Yea
David Green Republican Yea
Elias Coop-Gonzalez Republican Yea
Eric Brooks Republican Yea
Erica Moore Republican Yea
Evan Worrell Republican Yea
Gary G. Howell Republican Yea
Geno Chiarelli Republican Yea
George Miller Republican Yea
George Street Republican Not Voting
Henry Dillon Republican Yea
James Robert "JB" Akers II Republican Yea
Jarred Cannon Republican Yea
Jeff Campbell Republican Yea
Jeffrey Stephens Republican Yea
Jim Butler Republican Yea
Jimmy Willis Republican Yea
Joe Ellington Republican Yea
Joe Statler Republican Yea
John Paul Hott Republican Yea
Jonathan Pinson Republican Yea
Jordan Bridges Republican Yea
Jordan Maynor Republican Yea
Josh Holstein Republican Yea
Kathie Hess Crouse Republican Yea
Keith Marple Republican Yea
Laura Kimble Republican Yea
Lori Dittman Republican Yea
Margitta Mazzocchi Republican Not Voting
Mark Dean Republican Yea
Mark Zatezalo Republican Yea
Marty Gearheart Republican Yea
Matthew Rohrbach Republican Yea
Michael Hite Republican Yea
Michael Hornby Republican Yea
Mickey Petitto Republican Yea
Pat McGeehan Republican Yea
Patrick Lucas Republican Not Voting
Phil Mallow Republican Yea
Rick Hillenbrand Republican Yea
Roger Hanshaw Republican Yea
Roy Cooper Republican Yea
Scot C. Heckert Republican Yea
Stanley Adkins Republican Yea
Trenton Barnhart Republican Yea
Vacant1 Republican Yea
Vacant1 Republican Yea
Vernon Criss Republican Yea
Walter Hall Republican Yea
Wayne Clark Republican Yea
Wayne Clark Republican Yea
William Anderson Republican Yea

Official roll call →

EFFECT FROM PASSAGE

Passed 95 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Republican 61005
Unaffiliated 26000
Democrat 8000
Total 95005
% of votes cast 95%0%0%5%
How each member voted (100)
Member Party Vote
Jeffries — Yea
Ross — Yea
Rowe — Yea
Forsht — Yea
Kirby — Yea
Smith — Yea
Foster — Yea
Kump — Yea
Steele — Yea
Linville — Yea
Longanacre — Yea
Summers — Yea
Griffith — Yea
Hamilton — Yea
Martin — Yea
Tully — Yea
Hardy — Yea
Warner — Yea
Nestor — Yea
Westfall — Yea
Phillips — Yea
Devault — Yea
Winzenreid — Yea
Espinosa — Yea
Householder — Yea
Fast — Yea
Evan Hansen Democrat Yea
Hollis Lewis Democrat Yea
Joey Garcia Democrat Yea
John Williams Democrat Yea
Kayla Young Democrat Yea
Mike Pushkin Democrat Yea
Sean Hornbuckle Democrat Yea
Shawn Fluharty Democrat Yea
Adam Burkhammer Republican Yea
Adam Vance Republican Yea
Andy Shamblin Republican Yea
Betsy Kelly Republican Yea
Bill Ridenour Republican Yea
Bob Fehrenbacher Republican Yea
Bryan Ward Republican Yea
Charles Sheedy Republican Not Voting
Christopher W. Toney Republican Yea
Chuck Horst Republican Yea
Clay Riley Republican Yea
D. Rolland Jennings Republican Yea
Dana Ferrell Republican Yea
Darren Thorne Republican Yea
Dave Foggin Republican Yea
David Green Republican Yea
Elias Coop-Gonzalez Republican Yea
Eric Brooks Republican Yea
Erica Moore Republican Yea
Evan Worrell Republican Yea
Gary G. Howell Republican Yea
Geno Chiarelli Republican Yea
George Miller Republican Yea
George Street Republican Not Voting
Henry Dillon Republican Yea
James Robert "JB" Akers II Republican Yea
Jarred Cannon Republican Yea
Jeff Campbell Republican Yea
Jeffrey Stephens Republican Yea
Jim Butler Republican Yea
Jimmy Willis Republican Yea
Joe Ellington Republican Yea
Joe Statler Republican Yea
John Paul Hott Republican Yea
Jonathan Pinson Republican Yea
Jordan Bridges Republican Yea
Jordan Maynor Republican Yea
Josh Holstein Republican Yea
Kathie Hess Crouse Republican Yea
Keith Marple Republican Yea
Laura Kimble Republican Yea
Lori Dittman Republican Yea
Margitta Mazzocchi Republican Not Voting
Mark Dean Republican Yea
Mark Zatezalo Republican Yea
Marty Gearheart Republican Yea
Matthew Rohrbach Republican Yea
Michael Hite Republican Yea
Michael Hornby Republican Yea
Mickey Petitto Republican Yea
Pat McGeehan Republican Not Voting
Patrick Lucas Republican Not Voting
Phil Mallow Republican Yea
Rick Hillenbrand Republican Yea
Roger Hanshaw Republican Yea
Roy Cooper Republican Yea
Scot C. Heckert Republican Yea
Stanley Adkins Republican Yea
Trenton Barnhart Republican Yea
Vacant1 Republican Yea
Vacant1 Republican Yea
Vernon Criss Republican Yea
Walter Hall Republican Yea
Wayne Clark Republican Yea
Wayne Clark Republican Yea
William Anderson Republican Yea

Official roll call →

Passage

Passed 34 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 16000
Unaffiliated 17000
Democrat 1000
Total 34000
% of votes cast 100%0%0%0%
How each member voted (34)
Member Party Vote
MARONEY — Yea
STOVER — Yea
MARTIN — Yea
STUART — Yea
BOLEY — Yea
SWOPE — Yea
CAPUTO — Yea
NELSON — Yea
PHILLIPS — Yea
PLYMALE — Yea
TRUMP — Yea
HAMILTON — Yea
HUNT — Yea
JEFFRIES — Yea
SMITH — Yea
MR PRESIDENT — Yea
KARNES — Yea
Mike Woelfel Democrat Yea
Amy Grady Republican Yea
Ben Queen Republican Yea
Charles H. Clements Republican Yea
Eric Tarr Republican Yea
Jack Woodrum Republican Yea
Jason Barrett Republican Yea
Jay Taylor Republican Yea
Laura Wakim Chapman Republican Yea
Mark R. Maynard Republican Yea
Mike Azinger Republican Yea
Mike Oliverio Republican Yea
Patricia Rucker Republican Yea
Rollan A. Roberts Republican Yea
Ryan Weld Republican Yea
Tom Takubo Republican Yea
Vince Deeds Republican Yea

Official roll call →

Subjects

finance
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Frequently asked questions

Who sponsors SB 331?
SB 331 is sponsored by Rollan A. Roberts (Republican), Jack Woodrum (Republican), Amy Grady (Republican), Vince Deeds (Republican), and Charles H. Clements (Republican).
What is the current status of SB 331?
This bill has been enacted into law. Introduced January 11, 2024. Enacted.
Where can I track SB 331?
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