ENGROSSED
H. B. 2939
(By Delegates R.M. Thompson and Perry)
[Introduced March 8, 2005; referred to the
Committee on Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §12-1-12b; to amend and
reenact §12-3A-3 of said code; and to amend and reenact §44-1-28,
all relating generally to the administration of moneys held by the
state; establishing specific authorization for the State Treasurer
to continue as the authorized official and representative as part
of the cash management duties; allowing the auditor and treasurer
to accept electronic submittal of documents without certification,
notarization or verification under certain circumstances; and
authorizing the treasurer to remit property to heirs under certain
circumstances and establishing effect of such remittance.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §12-1-12b; that §12-3A-3 of said code be amended and reenacted; and that §44-1-28 of said
code be amended and reenacted, all to read as follows:
CHAPTER 12. PUBLIC MONEYS AND SECURITIES.
ARTICLE 1. STATE DEPOSITORIES.
§12-1-12b. Cash Management Improvement Act; administration;
reports.
(a)
The Cash Management Improvement Act of 1990, Public Law
101-453, October 24, 1990, 31 U.S.C. Section 6501 et. seq. (CMIA)
and regulations, as amended, establishes requirements and
techniques, including calculations, for the receipt and
disbursement of federal funds by states. The authorized official
and representative of the State of West Virginia for the CMIA is
the State Treasurer.
(b) In administering the CMIA, the State Treasurer
is
authorized to do all things reasonably necessary, including without
limitation, entering into agreements with, negotiating settlements
with, refunding any interest due and satisfying any liability to
the United States Treasury in accordance with the CMIA.
(c) Periodically, the State Treasurer shall transfer to the
"Federal Cash Management Fund", which is hereby authorized and
continued, earnings on the State General Revenue Fund in an amount
the Treasurer estimates is needed to make refunds in accordance
with the CMIA. After each annual settlement with the United States Treasury, the State Treasurer shall transfer to the State General
Revenue Fund any moneys remaining in the Federal Cash Management
Interest Fund for the period just settled.
(d) The State Treasurer shall also transfer periodically to
the "Federal Cash Management - Administration Fund," which is
hereby authorized and continued, earnings on the State General
Revenue Fund in an amount the Treasurer determines is needed to pay
for the costs of administering the CMIA. The State Treasurer may
pay the costs he or she incurs in administering the CMIA from the
Federal Cash Management-Administration Fund.
(e) All state spending units shall cooperate fully with the
State Treasurer in accumulating all the necessary data elements to
fully comply with the CMIA.
(f) The State Treasurer shall send quarterly reports on the
activities involving the CMIA to the Governor, Auditor, Secretary
of Revenue and Joint Committee on Government and Finance.
ARTICLE 3A. FINANCIAL ELECTRONIC COMMERCE.
§12-3A-3. Financial electronic commerce.
The State Auditor and the State Treasurer shall implement
electronic commerce capabilities for each of their offices to
facilitate the performance of their duties under this code. The
State Treasurer shall competitively bid the selection of vendors
needed to provide the necessary banking, investment and related
goods and services, and the provisions of article one-b, chapter five, and articles three and seven, chapter five-a of this code
shall not apply, unless requested by the State Auditor or State
Treasurer.
A record, an authentication, a document or a signature
received, issued or used by the Auditor
, or the Treasurer shall be
considered an original and may not be denied legal effect on the
ground that it is in electronic form.
The Auditor and Treasurer
may accept a document for the receipt or disbursements of moneys
requiring certification, notarization or verification in an
electronic format without the certification, notarization or
verification.
The head of each spending unit is responsible for adopting and
implementing security procedures to ensure adequate integrity,
security, confidentiality, and auditability of the business
transactions of his or her spending unit when utilizing electronic
commerce.
CHAPTER 44. ADMINISTRATION OF ESTATES AND TRUSTS.
ARTICLE 1. PERSONAL REPRESENTATIVES.
§44-1-28. Payment of small sums due employees to distributees of
decedents upon whose estates there have been no
qualifications.
(a) When there is due from the State of West Virginia, any of
its political subdivisions, the United States, or any employer, as pension or money allowed for burial expenses, or money, wages or
salary due from any employer to a deceased employee, upon whose
estate there has been no qualification, a sum of not exceeding one
thousand dollars, it shall be lawful for the State of West
Virginia, any of its political subdivisions, the United States, or
such employer, after one hundred and twenty days from the death of
said person to whom such money is due, to pay said sum to his or
her surviving consort, if any; if none such, then to the
distributees of the said decedent under the laws of the State of
West Virginia, whose receipt therefor shall be a full discharge and
acquittance to all persons whomsoever on account of such sum.
(b) When the State Treasurer holds property in accordance with
article eight, chapter thirty-six of this code on behalf of a
decedent whose estate has no qualification or is closed and the
amount of the property is five thousand dollars or less, the
Treasurer may remit the property to the surviving spouse of the
decedent, if any; and if no spouse survives the decedent, then to
the distributees of the decedent under the laws of the State of
West Virginia. Payment in accordance with this section is in full
discharge and acquittance to all persons whomsoever on account of
the property.