HB 4362
Relating generally to the Municipal Bond Commission governance
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to modernize and clarify the governance of the Municipal Bond Commission in West Virginia. It designates the State Treasurer as the commission’s chairman, mandates quarterly financial statements and annual audits, and allows for business conducted via video conferencing. The bill also removes obsolete language and establishes provisions for exempting the commission from state purchasing regulations, as well as permitting the commission to enter into existing contracts with financial institutions.
Key provisions
- Designates the State Treasurer as chairman of the Municipal Bond Commission.
- Requires the State Treasurer to provide office space and staff for the commission.
- Mandates quarterly financial statements and annual audits for the commission.
- Permits the commission to conduct business via video conferencing.
- Provides an exemption from state purchasing requirements.
- Authorizes the commission to enter into existing contracts with financial institutions.
- Removes obsolete language from the code.
- Increases the per diem rate for members of the commission.
Who is affected
- State Treasurer’s Office
- Municipal Bond Commission Members
- West Virginia Municipalities
- Financial Institutions
- State Government Agencies
Notable changes
- Designates the State Treasurer as the commission’s chair, replacing previous arrangements.
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