Transferring powers and duties of Municipal Bond Commission

This bill reorganizes the governance of the Municipal Bond Commission in West Virginia by transferring its oversight to the State Treasurer, who will serve as the commission's chairman. Under the new rules, the State Treasurer would appoint the commission's chief administrative officer, provide necessary office space and staff, and set a higher daily pay rate for members while allowing reimbursement for travel expenses. The legislation also mandates that the commission issue quarterly financial reports and undergo an annual audit, while permitting members to attend meetings via video conference and enter into contracts with financial institutions. Additionally, the bill removes outdated language from existing state laws and makes technical corrections to improve clarity within the relevant code sections.