West Virginia Code 29-31-13 – Capitalization of the West Virginia Flood Resiliency Trust Fund
(a) The West Virginia Flood Resiliency Trust Fund may be granted an initial one-time allocation of $40 million in state general funds for the purposes outlined in this article.
Terms Used In West Virginia Code 29-31-13
- Board: means the West Virginia State Resiliency Office Board created by this article. See West Virginia Code 29-31-2a
- Disaster: means the occurrence or imminent threat of widespread or severe damage, injury, or loss of life or property resulting from any natural, or terrorist, or man-made cause, including weapons of mass destruction, fire, flood, earthquake, wind, snow, storm, chemical or oil spill or other water or soil contamination, epidemic, air contamination, blight, drought, infestation or other public calamity requiring emergency action. See West Virginia Code 29-31-2a
- Flood Fund: means the West Virginia Flood Resiliency Trust Fund created by this article. See West Virginia Code 29-31-2a
- Flood resiliency: means efforts and activities intended to minimize damages during times of flooding resulting in reduced risk to people and infrastructure, and ensuring there is ample room for flooding and river adjustment to occur where the opportunity may exist. See West Virginia Code 29-31-2a
- Person: means any individual, corporation, voluntary organization or entity, partnership, firm, or other association, organization, or entity organized or existing under the laws of this or any other state or country. See West Virginia Code 29-31-2a
- Political subdivision: means any county or municipal corporation in this state. See West Virginia Code 29-31-2a
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) The State Resiliency Officer shall, with the concurrence of the State Auditor, present an expenditure report to the State Resiliency Office Board by no later than December 1 annually.
(c) Upon review and verification by the State Resiliency Office Board that all expenditures within the West Virginia Flood Resiliency Trust Fund expenditure report are valid and justified uses of Flood Fund resources, the State Resiliency Office Board shall submit to the Governor by no later than December 31 annually a budget and may request to replenish the Flood Fund up to its initial $40 million capitalization.
(d) Upon state receipt of Community Development Block Grant-Disaster Recovery funds in relation to a flood disaster event, and in order to provide the state with the flexibility required to provide assistance to any person, political subdivision, or local organization recovering from the flood disaster event, a minimum of six percent of those funds shall be dedicated for the purposes of Flood Resiliency Plan development and implementation activities to the extent that those purposes are in compliance with applicable federal laws and regulations governing such funds and compatible with the state’s long-term recovery goals.