This bill proposes an amendment to West Virginia Code §32-4-406, specifically increasing the percentage of fees collected by the Auditor that are paid into the special operating fund for the securities division. The current requirement of 20 percent will be raised to 30 percent, thereby enhancing the financial resources available for the operation of the securities division and the general operations of the Auditor's office.

Additionally, the bill stipulates that if the balance in the special operating fund exceeds 20 percent of the gross revenues from its operations at the end of any fiscal year, the excess funds will be transferred to the General Revenue Fund. This change aims to ensure that the securities division is adequately funded while also maintaining a check on the surplus in the operating fund.

Statutes affected:
Introduced Version: 32-4-406