SB436 would amend West Virginia Code §32-4-406 to increase the share of securities-related fees that the State Auditor must deposit into the special operating fund for the securities division from 20 percent to 30 percent. The bill does not change the underlying fee structure paid by regulated parties; instead, it changes how much of the collected fees the Auditor may retain for the securities division and the general operations of the Auditor’s office.
Under current law, the Auditor administers the securities chapter, maintains a special operating fund, and transfers any year-end excess above a specified threshold to the General Revenue Fund. SB436 would raise the percentage of fee revenue directed into that fund, which could provide additional operating resources for securities regulation and related office functions. The bill leaves intact the existing rules governing assessments, deposits to the General Revenue Fund, confidentiality of nonpublic information, and the Auditor’s authority as commissioner of securities.
Impact
The bill would amend a single provision in Chapter 32 of the West Virginia Code governing securities administration. Its practical effect is to increase the amount of fee revenue retained by the Auditor’s special operating fund from 20 percent to 30 percent, potentially reducing the amount of those fees that would otherwise flow to the General Revenue Fund after year-end transfers. It would affect the State Auditor’s office, the securities division, and indirectly the state budget allocation of fee revenues, but it does not alter substantive securities regulation or compliance obligations for regulated entities.
Sentiment
Based on the bill text and available context, the measure appears administrative and revenue-allocation focused rather than controversial in policy terms. The caption and purpose statement frame it as a funding adjustment for the Auditor’s securities operations, suggesting a generally practical or budgetary rationale. No committee transcripts or recorded votes were provided, so there is no evidence of formal support or opposition in the available materials.
Contention
The main point of potential contention is fiscal: increasing the retained share from 20 percent to 30 percent means more fee revenue stays with the Auditor’s special operating fund and less may be available for the General Revenue Fund. Supporters would likely emphasize improved funding for securities oversight and office operations, while critics could question whether the higher retention is necessary or whether those funds should instead support broader state priorities. No specific objections, amendments, or stakeholder concerns are documented in the provided record.