WV Legislative Brief - 2020- 2/7
Legislative Action by the Numbers:
1,289 bills introduced in the House of Delegates
725 bills introduced in the State Senate
78 bills have passed the House of Delegates
63 bills have passed the State Senate
10 bills have completed legislative action and await the Governor's consideration (6 House bills and 4 Senate bills)
2 bills have been signed into law by the Governor
My View from the Capitol:
On the financial front, West Virginia tax collections fell behind $50 million dollars in the first two months of the fiscal year. The State Treasury received a boost last month when the State Treasurer turned over a one-time payment of $20 million. That money came from the unclaimed property fund and interest on the Board of Treasury investments.
Additionally, the Justice administration revised revenue estimates downward by $16.5 million - $6 million for January and $10.5 million for April. But, that cushion is now committed, which means the state’s budget for the remaining five months of the fiscal year is tight, and as of today, revenues are $20 million behind estimates.
Sales taxes collections are coming in nearly two percent above last year’s level and right about at the projections for the year. Sales tax collections were three percent higher in January than the same month last year, and that could be a positive trend. The slowdown in the energy sector continues to be a major problem for the state. Severance tax collections are running nearly $40 million behind estimates for the year.