Removes the 30% cap on municipal stabilization funds in West Virginia.
The bill amends the Municipal Financial Stabilization Fund Act to remove the 30% cap on the amount of funds a municipality can hold in its stabilization fund. Previously, the fund could not exceed 30% of the municipality's most recent general fund budget. This change allows municipalities greater flexibility in managing their financial stabilization funds.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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