Bill > SB1006

This bill modifies how an additional one percent premium tax on fire and casualty insurance policies is distributed, aiming to provide equal shares of these funds to all fire companies and departments. Previously, these funds were allocated to specific municipal pension and relief funds, the Teachers Retirement System Reserve Fund, and volunteer fire companies and departments under a complex distribution formula. This bill simplifies the process by directing all collected moneys into a Fire Protection Fund, from which the Treasurer will allocate funds quarterly to eligible fire companies and departments, ensuring they receive an equal share. The bill removes provisions related to municipal pension and relief funds and the Teachers Retirement System Reserve Fund, focusing solely on the equitable distribution of these insurance premium tax revenues to fire protection services.

Government Affairs

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=1006&year=2026&sessiontype=RS&btype=bill