WEST VIRGINIA LEGISLATURE

2024 REGULAR SESSION

Introduced

Senate Bill 722

By Senator Barrett

[Introduced February 8, 2024; referred
to the Committee on Government Organization]

A BILL to amend and reenact §29-22B-1406 of the Code of West Virginia, 1931, as amended, relating to revising how a permittee is subject to examination of financial records relating to limited video lottery.  

Be it enacted by the Legislature of West Virginia:

ARTICLE 22B. Limited Video Lottery.  

Part XIV. Net Terminal Income and Distribution of revenues.

§29-22B-1406. Examination of permittee books and records.

The commission has the right to examine all accounts, bank accounts, financial statements, and records in a permittee's possession, for a limited video lottery which is under it’s the permittee's control or in which it the permittee has an interest and the licensed permittee shall authorize all third parties in possession or in control of the accounts or records to allow examination of any of those accounts or records by the commission. A permittee shall be subject to the same financial examination standards regardless of whether they are an operator or a limited video lottery retailer.

NOTE: The purpose of this bill is to revise how a permittee is subject to examination of financial records relating to limited video lottery.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.