The bill aims to amend the Code of West Virginia to establish the "Taxpayer Transparency in Education Act," which mandates that county boards of education prepare and publish financial statements within 120 days of the start of each fiscal year. The financial statements must include detailed information about receipts, expenditures, debts, and payments to individuals and firms. Additionally, the bill introduces a requirement for county boards to file a copy of the published statement with the State Auditor and the state superintendent of free schools within 90 days after the fiscal year ends.

A significant provision of the bill is that the State Auditor is tasked with issuing a notice of noncompliance to any county board that fails to submit the required financial statement within the specified timeframe. Furthermore, if a county board remains noncompliant for more than 60 days, it will be prohibited from receiving any discretionary state funding until compliance is achieved. The amendments made by this bill will take effect on July 1, 2026.

Statutes affected:
Introduced Version: 18-9-3a