West Virginia House Bill 2584 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on January 22 2019 - 25% progression, died in committee
Action: 2019-01-22 - To House Banking and Insurance
Pending: House Banking & Insurance Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to provide more flexibility to the Public Employees Insurance Agency to manage the reserves and financing of the plan on a year-to-year basis. The bill requires the PEIA reserve fund to be maintained at an actuarially recommended amount and removes the requirement that any amount in excess of 15 percent of the recommended reserve be transferred out of the fund and into the Retiree Health Benefit Trust Funds. The bill establishes the Rainy Day Fee as a dedicated source of funding for PEIA; provides for those funds to be deposited in a new special revenue account created in the State Treasury to be known as the PEIA Rainy Day Fund; and authorizes the Legislature to permit the Secretary of Revenue to assess and collect Rainy Day Fees in subsequent fiscal years of the state.

Relating generally to funding of Public Employees Health Insurance Program

Del. Roger Hanshaw [R]

Del. Tim Miley [D]

Date	Chamber	Action
2019-01-22	House	To House Banking and Insurance
2019-01-22	House	Introduced in House
2019-01-22	House	To Banking and Insurance then Finance
2019-01-22	House	Filed for introduction

SB386 (Similar To) 2019-01-22 - To Finance

Chapter	Article	Section	Citation Type	Statute Text
11B	2	15a	New Code	See Bill Text
5	16	25	Amended Code	Citation Text
5	16	27	New Code	See Bill Text

Type	Source
Summary	http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=2584&year=2019&sessiontype=RS&btype=bill
Text	http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb2584%20intr.htm&yr=2019&sesstype=RS&i=2584