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WV HB3502
Bill
Status
3/18/2025
Primary Sponsor
Sean Hornbuckle
Click for details
AI Summary
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Increases the West Virginia Flood Resiliency Trust Fund capitalization from $40 million to $250 million as a one-time allocation
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Allocates $100 million from the Revenue Shortfall Fund to the Flood Fund to address recurring statewide flood emergencies
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Appropriates $150 million from excess moneys in the Income Tax Reserve Fund to the Flood Fund
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Allows the State Resiliency Office Board to request annual replenishment of the Flood Fund up to the new $250 million cap
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Declares legislative finding that proactive flood prevention measures are appropriate uses of emergency reserve funds to mitigate foreseeable flood events
Legislative Description
Appropriations from the state Revenue Shortfall Fund and the Income Tax Reserve Fund be utilized to initiate investments in flood prevention initiatives to reduce the impact of severe flooding
Legislature
Last Action
To House Government Organization
3/18/2025