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WV SB1006
Bill
Status
Introduced
2/19/2026
Primary Sponsor
Robbie Morris
Click for details
AI Summary
- Amends West Virginia's fire and casualty insurance premium tax allocation to direct funds exclusively to fire companies and departments, eliminating distributions to municipal police and firefighters' pension funds and the Teachers Retirement System Reserve Fund
- Removes the current 10% allocation to Teachers Retirement System and 65% allocation to Municipal Pensions Security Fund, redirecting all premium tax revenue to the Fire Protection Fund
- Eliminates the distinction between volunteer, part-volunteer, and full-time fire departments, providing equal shares to all fire companies and departments regardless of staffing composition
- Removes extensive provisions governing municipal pension fund reporting requirements, oversight board allocations, and investment performance reviews
- Deletes provisions related to pension funding revenue bonds and the prior $3,631,846.55 settlement for historical allocation errors from the Unclaimed Property Trust Fund
Legislative Description
Relating to fire and casualty insurance premium tax
Taxation
Last Action
To Finance
2/24/2026
Committee Referrals
Finance2/24/2026
Government Organization2/19/2026
Full Bill Text
No bill text available