This bill proposes the repeal of section 6-9-2b of the Code of West Virginia, which pertains to the creation of a Local Government Purchasing Card Expenditure Fund. Additionally, it amends section 12-3-10d, which governs the management of the Purchasing Card Fund. The bill aims to streamline the allocation of rebate moneys received from state spending unit purchasing card purchases by eliminating the previous requirement to transfer 10 percent of these rebates to the Purchasing Improvement Fund.

Under the new provisions, the Auditor will now be required to transfer five and one-half percent of the rebate moneys to the Entrepreneurship and Innovation Investment Fund, 10 percent to the Hatfield-McCoy Regional Recreation Authority, and 10 percent to the State Park Operating Fund. Importantly, all remaining rebate moneys not allocated to these funds will be directed to the PEIA Rainy Day Fund, which is intended to help stabilize that fund. This change reflects a shift in focus towards supporting the PEIA Rainy Day Fund through the full allocation of P-Card rebates.

Statutes affected:
Introduced Version: 12-3-10d