Future Fund

The Legislature Today
7:54 pm
Wed March 5, 2014

House Judiciary on Future Fund and Crime Victim Compensation, Local Issues in Senate, & Frack Waste

The House Judiciary Committee deals with a constitutional amendment to partner with the establishment of a Future Fund and also deals with a bill that would change awards given from the Crime Victim's Compensation Fund, Members of the Senate bring their local issues to the floor and the Natural Resources Committee sees controversy over a bill relating to deer farming. Glynis Board delivers a special report on frack waste and what researchers think is best to do with it.

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House Judiciary
2:58 pm
Wed March 5, 2014

Committee Approves Constitutional Amendment, Bill to Adjust Crime Victim Compensation Awards

The House Judiciary Committee approved S.J.R. 14, proposing constitutional amendment designated Future Fund Amendment and S.B. 204, relating to crime victims compensation awards.
Credit Aaron Payne

While the House Judiciary Committee was unable to get through all 19 items in the morning session, they were able to approve a constitutional amendment that would partner with Senate President Jeff Kessler’s Future Fund bill.

The resolution would put the specific parameters of the fund into West Virginia’s constitution.

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The Legislature Today
7:08 pm
Mon March 3, 2014

Update on the Governor's Legislative Agenda, Future Fund, Teacher Raises, & WVCBP's Ted Boettner

An update on Governor Tomblin's legislative agenda and members of the Senate Government Organization Committee discuss a House bill that would reform the state Ethics Commission and reduce the number of members it requires. House committees discuss bills from the Senate, including the Future Fund and pay raises for teachers. Ted Boettner of the West Virginia Center on Budget and Policy about various issues, including taxes, the future fund, and the state budget.

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House of Delegates
5:40 pm
Mon March 3, 2014

Committees Approve Bills to Create Future Fund, Increase Teacher Salaries

The House Judiciary Committee discussed and approved S.B. 431, creating the Future Fund.
Credit Daniel Walker

The House Judiciary Committee looked over Senate Bill 461 which would create the Future Fund.

No substantive changes were suggested by the committee.

While none of the delegates opposed the idea of setting aside extra money from severance tax from natural resources for the sake of future projects, there were concerns the language of the bill would allow future legislatures to change the code and use the money for other purposes.

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House of Delegates
6:03 pm
Fri February 28, 2014

Three Senate Bills and Where the House Stands

The House will work on many Senate bills before the end of the session at midnight on March 8th.
Credit Aaron Payne

Senate Bill 373: The Water Protection Bill

The House has had S.B. 373 for nearly a month and Thursday, a bipartisan group of delegates sent a letter to Governor Tomblin requesting a special session with the sole focus on this bill.

One senate leader was not pleased with the request. Senate Majority Leader John Unger said he and his colleagues would refuse an extended session because he feels the House has had the bill long enough.

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Senate
5:21 pm
Wed February 26, 2014

Constitutional Amendments Make it One Step Closer to Nov. Ballot

Credit Martin Valent / WV Legislative Photography

In a rare occurrence at the statehouse, Senators debated three possible Constitutional Amendments on the floor, changes that will ultimately be sent to the people for their approval.     

Senate Joint Resolution 10 proposes a Constitutional Amendment designating the right to hunt and fish for West Virginians.

Sen. Corey Palumbo amended the resolution on the floor Wednesday, clarifying that the people of West Virginia have the right to hunt and fish the state’s game, but the state still maintains the ability to regulate those activities.

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Tax Revenues
3:48 pm
Fri February 21, 2014

W.Va. Senate Passes Future Fund

Credit Martin Valent / WV Legislative Photography

The West Virginia Senate has unanimously passed a bill to conserve and invest a portion of oil and gas revenues to use for future infrastructure and economic development.

The Future Fund Bill passed Friday sets aside 25 percent of the severance tax revenues collected from private oil and gas companies above a $175 million benchmark. This benchmark projects funds needed to sustain government operations.
 

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Legislature
2:20 pm
Sat February 8, 2014

W.Va. Senate Hopes to Invest Portion of Oil Tax

Credit Martin Valent / West Virginia Legislature

A state Senate committee has approved a proposal to invest some of West Virginia's oil and natural gas revenues for future infrastructure and economic development.

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The Legislature Today
7:29 pm
Fri January 31, 2014

George Hohmann Talks 'Move to Improve' & Minimum Wage, Eric Eyre Discusses Rx-Only Pseudoephedrine

The House of Delegates responds to accusations that the triple committee reference of the Senate's chemical spill bill means certain demise. The Senate plans to get children exercising, rehabilitation programs to quell prison overcrowding, and a bill to create a future fund for mineral severance taxes. Former Charleston Daily Mail business editor and current West Virginia Press Association writer George Hohmann talks Senator John Unger's 'Move to Improve' initiative and minimum wage. Eric Eyre of The Charleston Gazette discusses prescription-only pseudoephedrine legislation aimed at stifling meth production.

Senate
6:34 pm
Fri January 31, 2014

Kessler’s Future Fund Takes New Shape

Senate President Jeff Kessler discusses Senate business with staffers during the 2014 Legislative Session.
Credit Ashton Marra

Senate President Jeff Kessler introduced his Future Fund legislation into the Senate Friday. The proposal this year, however, is slightly different from years past.

Senate Bill 461 creates the statutory framework for the fund:

-Provides 25 percent of any revenues collected from oil and gas severance taxes over and above $175 million be automatically placed in Future Fund, up from $70 million baseline proposed last year

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The Legislature Today
7:32 pm
Tue January 14, 2014

Senate President Jeff Kessler Talks Chemical Leak, Future Fund

Transportation Secretary Paul Mattox talks funding and construction for roads to the Senate Committee on Transportation, the Office of Legislative Information stays busy while the House of Delegates reorganizes plans in the aftermath of last week's chemical spill, and Senate President Jeff Kessler touts his plans for a future fund with hopes to keep the state in sound financial shape.

Subscribe to the podcast for daily downloads of the program.

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WV Legislature
8:43 pm
Tue January 7, 2014

Statewide Group Offers Legislature 11 Priorities to Benefit Children

Executive Director of the Healthy Kids and Families Stephen Smith hands the Our Children, Our Future Campaign's platform to Hallie Mason of the governor's office.
Credit Aaron Payne

The Healthy Kids and Families Coalition presented 11 issues known as the Our Children, Our Future Campaign to End Child Poverty and then hand-delivered them to legislators at the Capitol Tuesday. The group wants these issues made priority as the 60-day  session begins Wednesday.

Those 11 issues include:

1. Protect Funding for Family Support Programs

The goal is to keep Family Resource Networks and Starting Points Family Resource Centers across the state funded.

2. In-Home Family Education Programs/Early Childhood

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