This bill appropriates funds 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, 2027. It establishes the maximum number of regular employees for both departments, with a total of 92 employees for the State Bank Department and 41 for the State Securities Department. The bill outlines specific salary rates for various positions and authorizes a limited number of part-time or temporary employees, referred to as "Extra Help." The total amount appropriated for the State Bank Department is $14,768,700, while the State Securities Department is allocated $4,486,527.
Additionally, the bill includes appropriations for refunds and reimbursements, as well as for the Investor Education Fund, which supports operating expenses and grants. Notably, the bill introduces an emergency clause, stating that the act must take effect on July 1, 2026, to ensure the timely operation of the agency and prevent any disruption in essential governmental programs. The bill emphasizes compliance with existing fiscal control laws and the intent of the General Assembly regarding the appropriations made.