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Bill > SB436


WV SB436

WV SB436
Changing percent of fees retained by Auditor


summary

Introduced
02/13/2025
In Committee
02/13/2025
Crossed Over
Passed
Dead
04/12/2025

Introduced Session

2025 Regular Session

Bill Summary

The purpose of this bill is to increase the amount paid by the Auditor into the special operating fund for the securities from 20 percent to 30 percent of all fees collected by the Auditor under Chapter 32.

AI Summary

This bill modifies the existing law regarding the administration of the securities division by changing the percentage of fees that the Auditor pays into a special operating fund from 20 percent to 30 percent of all fees collected under Chapter 32. Currently, the Auditor is designated as the commissioner of securities and is responsible for administering this chapter, which includes setting up a special operating fund for the securities division. The fund is used to support the operation of the securities division and the general operations of the Auditor's office. If the balance of the special operating fund exceeds 20 percent of its gross revenues at the end of a fiscal year, the excess must be transferred to the General Revenue Fund. The bill simply increases the initial percentage of fees paid into this special operating fund, potentially providing more resources for the securities division's operations.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

To Finance (on 02/13/2025)

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