The bill proposes an appropriation for personal services and operating expenses for the Department of Commerce, specifically for the State Bank Department and the State Securities Department, for the fiscal year ending June 30, 2026. It establishes the maximum number of regular employees for both departments, with a total of 92 positions for the State Bank Department and 41 positions for the State Securities Department. The bill outlines the salaries and classifications for these positions, as well as the authorization for temporary or part-time employees, referred to as "Extra Help," with a maximum of four for the State Bank Department and three for the State Securities Department.
Additionally, the bill details the appropriated amounts for various operational expenses, including regular salaries, personal services matching, and maintenance and general operations. The total amount appropriated for the State Bank Department is $14,766,118, while the State Securities Department is allocated $4,483,822. The bill also includes provisions for refunds and reimbursements, as well as an Investor Education Fund, which is allocated $316,000 for operating expenses and grants. An emergency clause is included, stating that the act is necessary for the immediate preservation of public peace, health, and safety, and will take effect on July 1, 2025.