On March 8, 2014 the WV Legislature passed SB 461 creating the West Virginia Future Fund (the “Fund”). SB 461 was signed by the Governor on March 20, 2014 and takes effect on June 6, 2014 (90 days from passage).
The Fund is a special revenue account which is to be invested by the WV Investment Management Board. The Legislature declared its intent to use the Fund as a means of conserving a portion of state revenue derived from the increased revenue proceeds received by the state as a result of mineral production, as well as other funding sources that may be designated in the future.