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Introduced Version Senate Bill 413 History

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Key: Green = existing Code. Red = new code to be enacted


Senate Bill No. 413

(By Senator Sharpe)

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[Introduced January 25, 2002; referred to the Committee

on Finance.]

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A BILL to amend and reenact section ten-d, article three, chapter twelve of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to providing investment authority to the purchasing card fund.

Be it enacted by the Legislature of West Virginia:
That section ten-d, article three, chapter twelve of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows.
ARTICLE 3. APPROPRIATIONS, EXPENDITURE AND DEDUCTIONS.
§12-3-10d. Purchasing card fund created; expenditures.
All money received by the state pursuant to any agreement with vendors providing purchasing charge cards shall be deposited in a special revenue revolving fund, designated the "Purchasing Card Administration Fund", in the state treasury to be administered by the auditor. All expenses by the auditor in the implementation and operation of the purchasing card program shall be paid from the fund. Expenditures from the fund shall be made in accordance with appropriations by the Legislature pursuant to the provisions of article three, chapter twelve of this code and upon fulfillment of the provisions of article two, chapter five-a of this code. Funds shall be invested with the consolidated fund managed by the West Virginia investment management board and interest earned shall be used for purposes of this article.
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(NOTE: The purpose of this bill is to provide investment authority to the purchasing card fund.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.)
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