2023 Special Session I

Budget Bill - HB6001 (Introduced)

State Corporation Commission

Item 489

Item 489

First Year - FY2023Second Year - FY2024
Regulation of Business Practices (55200)$83,730,886$81,619,080
Corporation Commission Clerk's Services (55203)FY2023 $19,078,374FY2024 $18,616,911
Regulation of Investment Companies, Products and Services (55210)FY2023 $10,638,833FY2024 $10,237,779
Regulation of Financial Institutions (55215)FY2023 $17,378,248FY2024 $16,944,577
Regulation of Insurance Industry (55216)FY2023 $36,635,431FY2024 $35,819,813
Fund Sources:  
SpecialFY2023 $83,030,886FY2024 $80,919,080
Federal TrustFY2023 $700,000FY2024 $700,000

Authority: Article IX, Constitution of Virginia; Title 6.2; Title 8.9A, Part 4; Title 12.1, Chapter 4; Title 13.1; Title 56, Chapter 15, Article 5; Title 58.1, Chapter 28; Title 59.1, Chapter 6.1, Code of Virginia; Title 38.2; Title 58.1, Chapter 25; and Title 65.2, Chapter 8, Code of Virginia.

Out of the amounts for this Item, $1,200,000 the first year and $1,200,000 the second year is provided to effectuate the provisions of Chapter 486 of the Acts of Assembly of 2017, which allows the Commission to absorb the credit card and eCheck convenience fees as opposed to passing them on to the filers and also grants the Commission the discretion to not charge a fee for providing copies of certain documents.