WV Center on Budget and Policy > Press > WVCBP in the News > Future Fund for West Virginia Looking Brighter

Future Fund for West Virginia Looking Brighter

March 2, 2014

The State Journal – Creating a Future Fund for the state has been on the minds of many West Virginia officials for the last several years, but this year it might become a reality. Read

The Future Fund, Senate Bill 461, sponsored by West Virginia Senate President Jeff Kessler, D-Marshall, along with 31 of the 34 members of the Senate, passed the body unanimously and was sent to the West Virginia House of Delegates Feb. 21.

The House introduced the bill Feb. 21, where it was double-referenced to the House Judiciary and Finance committees.

The Judiciary committee was scheduled to take up the bill first.

Kessler’s bill, if passed by the House, would allow the state to save 25 percent of its oil and gas severance taxes, resulting in more than $175 million to be placed into the fund.