The Sky Was Falling Legislative Update 2/27/15

This week in Raleigh the sky was falling! – well it was snowing!

The news in Raleigh was dominated by snow and ice and skeleton sessions and empty calendars.  However there were a few items of interest:

Fee Increases at the Secretary of State's Office

Secretary of State Elaine Marshall proposed several fee increases to generate funds for additional investigator positions in her office in advance of anticipated enactment of crowdfunding legislation.  She proposes increasing the fee to incorporate and LLC from $125 to $150, and increasing the fee to register as a securities salesman from $125 to $135.  Increasing these fees is expected to generate $2.68 million per year with $1 million funding twelve investigator positions in her office and $1.68 million in new revenues for the state's general fund.  Legislators from both parties asked her to come back with fee increases that only generate $1 million.