Modifying the crimes of petit larceny and grand larceny

HB 2624 modifies West Virginia's larceny laws by raising the monetary thresholds for classifying offenses. It increases the threshold for grand larceny (felony) from $1,000 to $2,500 and sets petit larceny (misdemeanor) at amounts under $2,500. The bill also creates a new "aggravated grand larceny" category for thefts of $25,000 or more, carrying a 3-15 year prison sentence and up to $100,000 in fines. For standard grand larceny, it eliminates the option of a one-year jail term and raises the maximum fine from $2,500 to $10,000. These changes directly affect individuals convicted of theft crimes by altering sentencing ranges based on the value of stolen property.