HB4480: Granting to the West Virginia Department of Environmental Protection Division of Air Quality the authority to invest the money held in certain funds

Legislative Summary

The purpose of this bill is to help stabilize funding sources for the WVDEP DAQ. Air quality in West Virginia has improved drastically over the years and is a reason to celebrate. The financial reality from decreased industrial air emissions however, results in a decrease in DAQ’s revenues. Since the Clean Air Act was amended in 1990, industrial air emissions in WV have decreased approximately 80%. Fees for large industrial sources are based on their emissions rates; therefore, revenues have also been decreasing. Currently, the DAQ funds are not invested. This proposal would establish authority for WVDEP to invest DAQ funds.