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SB 677 West Virginia Senate · 2025 Regular Session

Increasing fees charged by Commissioner of Securities for each offering

SB 677 increases the fees charged by the Commissioner of Securities for each securities offering filed with the state. This directly affects companies and financial entities that register securities offerings to raise capital within the state. The bill establishes new, higher fee amounts per offering, replacing previous rates. It became law on April 28, 2025, after approval by the Governor and both chambers. The change applies to all new filings under the updated fee structure.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill increases regulatory fees for securities offerings, generating additional state revenue that directly supports budget funding and fiscal management.90% confidence
Bill status signed all 5 stages cleared
Introduction
Mar 2025
Committee Review
Apr 2025
Senate Passage
Apr 2025
House of Delegates Passage
Apr 2025
Signed into Law
Aug 2025
Introduced Mar 4, 2025 Signed Aug 8, 2025
Maddy AI version diff · 2 comparisons

What changed between versions

Committee Substitute → Enrolled Committee Substitute · 4 edits · Apr 28, 2025
MODERATE
This bill updates the West Virginia Uniform Securities Act to modernize registration fees, adjust fund distribution percentages, and clarify effective dates. The changes increase filing fees for agents and the annual sales report fee, raise the percentage of fees transferred to the State Auditor's operating fund, and extend the time before certain fees take effect.
Scope change
The bill's scope remains focused on securities regulation, but the financial thresholds and administrative requirements for brokers, agents, and issuers have been adjusted to reflect current economic conditions and operational needs.
FISCAL

The percentage of collected fees transferred to the State Auditor's special operating fund was increased from 20% to 25%.

REQUIREMENT

Filing fees for agents increased from $66 to $70, and the minimum annual sales report fee for issuers increased from $240 to $300.

TIMELINE

The effective date for the bill was clarified to be 90 days after passage (July 10, 2025), replacing previous draft reporting dates.

TECHNICAL

The bill text was finalized from a 'Committee Substitute' version to an 'Enrolled Version' with updated certification signatures and formal enactment language.

Floor votes · Senate Apr 1, 2025 · House of Delegates Apr 11, 2025

How they voted

26–6
Passed · 1 other
Total votes 33
Apr 1, 2025
D Democratic2
1 Yea 1
50% Yea
R Republican31
25 Yea 6 Nay
80% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
34
Key actions
7
Committee
5
Apr 28, 2025
Signed into law
Approved by Governor 4/28/2025
upper
Apr 12, 2025
Signed into law
Approved by Governor 4/28/2025 - House Journal
lower
Apr 12, 2025
Signed into law
Approved by Governor 4/28/2025 - Senate Journal
upper
Apr 11, 2025
Lower · Passed
Passed House (Roll No. 515)
lower
Apr 9, 2025
Lower · Passed
Do pass
lower
Apr 2, 2025
Committee
To House Finance
lower
Apr 2, 2025
Committee
To Finance
lower
Apr 2, 2025
Introduced
Introduced in House
lower
Apr 1, 2025
Upper · Passed
Passed Senate (Roll No. 263)
upper
Mar 29, 2025
Upper · Passed
Committee substitute reported
upper
Mar 4, 2025
Introduced
Introduced in Senate
upper
Mar 4, 2025
Committee
To Finance
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.