The bill amends the Code of West Virginia to create a structured approach for managing fiscal emergencies and fiscal watches for local governments. It introduces a new article, 6-9D, which emphasizes the significance of fiscal integrity and outlines conditions that may trigger a fiscal watch or emergency, such as failure to meet financial obligations and significant deficits. The State Auditor is designated to oversee local government finances, initiate fiscal watch reviews, and provide necessary technical assistance. Local governments are required to submit a financial recovery plan within 90 days of a fiscal watch declaration, and failure to comply may lead to a fiscal emergency being declared by the State Auditor.

Additionally, the bill establishes an appeal process for local governments to contest the State Auditor's determination of a fiscal emergency, allowing them to appeal to the circuit court within 30 days. It also introduces a financial planning and supervision committee to assist local governments in developing recovery plans during fiscal emergencies. The bill outlines procedures for the involuntary dissolution of municipalities, including asset liquidation processes, and grants the State Auditor authority to manage these affairs. It specifies that certain sales may be exempt from public auction requirements and prohibits State Auditor employees and their families from purchasing municipal assets, ensuring transparency and preventing conflicts of interest.

Statutes affected:
Originating in Committee: 8-35-1, 8-35-2, 6-9D-1, 6-9D-2, 6-9D-2a, 6-9D-3, 6-9D-4, 6-9D-5, 6-9D-6, 6-9D-7, 6-9D-8, 6-9D-9, 6-9D-10, 6-9D-11, 6-9D-12, 8-35-3, 8-35-4, 8-35-5, 8-35-6
Engrossed Version: 8-35-1, 8-35-2, 6-9D-1, 6-9D-2, 6-9D-2a, 6-9D-3, 6-9D-4, 6-9D-5, 6-9D-6, 6-9D-7, 6-9D-8, 6-9D-9, 6-9D-10, 6-9D-11, 6-9D-12, 8-35-3, 8-35-4, 8-35-5, 8-35-6
Enrolled Version: 8-35-1, 8-35-2, 6-9D-1, 6-9D-2, 6-9D-3, 6-9D-4, 6-9D-5, 6-9D-6, 6-9D-7, 6-9D-8, 6-9D-9, 6-9D-10, 6-9D-11, 6-9D-12, 6-9D-13, 6-9D-14, 8-35-3, 8-35-4, 8-35-5, 8-35-6