§5-7-6. Contribution fund; appropriations thereto


Published: 2015

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WEST VIRGINIA CODE











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WVC 5-7-6

§5-7-6. Contribution fund; appropriations thereto.

(a) There is hereby established a special fund to be known as

the contribution fund. The fund shall consist of and there shall

be deposited in the fund: (1) All contributions, interest and

penalties collected under sections four and five of this article;

(2) all moneys appropriated to the fund under this article; (3) all

moneys paid to the state pursuant to any agreement entered into

under subsection (b), section three of this article; (4) any

property or securities and earnings thereof acquired through the

use of moneys belonging to the fund; (5) interest earned upon any

moneys in the fund; and (6) all sums recovered upon the bond of the

custodian or otherwise for losses sustained by the fund and all

other moneys received for the fund from any other source. All

moneys in the fund shall be mingled and undivided. Subject to the

provisions of this article, the state agency is vested with full

power, authority and jurisdiction over the fund, including all

moneys and property or securities belonging thereto, and may

perform any and all acts whether or not specifically designated,

which are necessary to the administration thereof consistent with

the provisions of this article.

(b) The contribution fund shall be established and held

separate and apart from any other funds or moneys of the state and

shall be used and administered exclusively for the purpose of this

article: Provided, That amounts collected which are found from

time to time to exceed the funds needed for the purposes set forth in this article may be transferred to other accounts or funds and

redesignated for other purposes by appropriation of the

Legislature: Provided, however, That any other withdrawals from

the fund shall be made for, and solely for (1) payment of amounts

required to be paid to the federal agency pursuant to an agreement

entered into under section three; (2) payment of refunds provided

for in subsection (c), section four of this article; and (3)

refunds of overpayments, not otherwise adjustable, made by a

political subdivision or instrumentality.

(c) From the contribution fund the custodian of the fund shall

pay to the federal agency such amounts and at such time or times as

may be directed by the state agency in accordance with any

agreement entered into under section three of this article and

applicable federal law.

(d) The treasurer of the state shall be ex officio treasurer

and custodian of the contribution fund and shall administer the

fund in accordance with the provisions of this article and the

directions of the state agency and shall pay all warrants drawn

upon it in accordance with the provisions of this section and with

such regulations as the state agency may prescribe pursuant

thereto.

(e) (1) There are hereby authorized to be appropriated

annually to the contribution fund, in addition to the contributions

collected and paid into the contribution fund under sections four

and five, to be available for the purposes of subsections (b) and (c) of this section until expended, such additional sums as are

found to be necessary in order to make the payments to the federal

agency which the state is obligated to make pursuant to an

agreement entered into under section three of this article.

(2) The state agency shall submit to the governor, at least

ninety days in advance of the beginning of each regular session of

the Legislature, an estimate of the amounts authorized to be

appropriated to the contribution fund by paragraph (1) of this

subsection for the next appropriation period.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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