West Virginia § 33-3-14e Use of insurance premium tax proceeds to support health sciences and medical schools

West Virginia Statutes

§ 33-3-14e — Use of insurance premium tax proceeds to support health sciences and medical schools

West Virginia·Ch. 33 Â INSURANCE·Art. 3 LICENSING, FEES AND TAXATION OF INSURERS

(a)The Legislature recognizes that the schools of medicine, dentistry, nursing, and related programs of the Health Sciences Center of West Virginia University School of Medicine; the Medical School at Marshall University; and the West Virginia School of Osteopathic Medicine, each provide critical, medical, and related health educational and service opportunities for the significant benefit of the residents of the State of West Virginia. The Legislature finds and declares that it should dedicate a portion of the insurance tax proceeds credited to the general fund as contemplated by §33-3-14(c) of this code and §33-3-14a of this code to provide additional dedicated funds to the base of appropriation support for these schools.

(b)Effective July 1, 2022, to support these schools, and in add

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(a) The Legislature recognizes that the schools of medicine, dentistry, nursing, and related programs of the Health Sciences Center of West Virginia University School of Medicine; the Medical School at Marshall University; and the West Virginia School of Osteopathic Medicine, each provide critical, medical, and related health educational and service opportunities for the significant benefit of the residents of the State of West Virginia. The Legislature finds and declares that it should dedicate a portion of the insurance tax proceeds credited to the general fund as contemplated by §33-3-14(c) of this code and §33-3-14a of this code to provide additional dedicated funds to the base of appropriation support for these schools.

(b) Effective July 1, 2022, to support these schools, and in addition to the base appropriations to these schools, the Governor shall include appropriations in each annual budget bill submitted to the Legislature from the amounts sent to the credit of the General Revenue Fund pursuant to §33-3-14(c) of this code and §33-3-14a of this code, as follows:

(1) To the schools of medicine, dentistry, nursing, and related programs of the Health Sciences Center of West Virginia University, $14 million;

(2) To the School of Medicine at Marshall University, $5,500,000; and

(3) To the West Virginia School of Osteopathic Medicine, $3,900,000.

(c) These funds shall be dedicated quarterly from the collection of the insurance premium tax in the months of July, October, February, and April of each fiscal year. Each school as set forth in subsection (b) of this section shall receive their dedicated funds at the rate of one quarter of the full amount in each of those months.

(d) Nothing in this section shall be construed to limit or reduce the amount of total appropriations to schools of medicine, dentistry, nursing, and related programs of the Health Sciences Center of West Virginia University, the Medical School at Marshall University, and the West Virginia School of Osteopathic Medicine to the amounts contemplated by this section.

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