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WV HB5237

Bill

Official Source

Status

Introduced

2/5/2026

Primary Sponsor

Sean Hornbuckle

Click for details

Origin

House of Delegates

2026 Regular Session

AI Summary

  • Governor may borrow up to $50 million from the Revenue Shortfall Reserve Fund to deposit into the Unemployment Compensation Fund when the balance drops below $50 million
  • Borrowing requires written notification to presiding officers of both legislative houses and a projection from the Executive Director of Workforce West Virginia that the fund balance will fall below $50 million within 30 days
  • Borrowed funds may only be used to pay unemployment benefits
  • All borrowed funds must be repaid without interest within 180 days from Unemployment Trust Fund balances exceeding $50 million or other legally available funds
  • Extends the borrowing authority deadline from September 1, 2018 to September 1, 2027

Legislative Description

Maintaining the solvency of the Unemployment Compensation Fund

Unemployment Compensation

Last Action

To House Finance

2/5/2026

Committee Referrals

Finance2/5/2026

Full Bill Text

No bill text available