WV HB5431

Requires state agencies to obtain a recommendation from the State Treasurer before issuing refunding bonds, starting July 1, 2026, with recommendation requests due at least 90 days prior to bond sales.

Creates a new Chapter 13A consolidating all general obligation bond provisions under the State Treasurer's authority, establishing standardized procedures for issuing, selling, and administering future general obligation bonds authorized by constitutional amendments.

Establishes that the State Treasurer will select bond counsel, financial advisors, and underwriters for general obligation bonds, with these selections exempt from standard state purchasing requirements.

Relocates existing statutory provisions for Roads to Prosperity bonds (up to $1.6 billion authorized in 2017) and Safe Roads Amendment bonds (1996) to the new chapter without altering their terms or authorizing additional bonds.

Creates a misdemeanor offense for conflicts of interest violations related to bond proceeds, punishable by fines up to $1,000 and/or up to one year in jail.