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Senate Bill 0231


Senate Bill 0231

ARCHIVE (2008)

Latest Information

 

DIGEST OF SB231 (Updated January 29, 2008 1:24 pm - DI 84)


Oversight of public money. Provides that the gaming commission has continuing jurisdiction over riverboat economic development agreements and incentive payments, regardless of the date of the development agreement. Establishes reporting requirements for the recipients of incentive payments under the agreements. Provides that: (1) a contributing municipality shall after June 30, 2008, contractually require, as a condition of providing public money to a municipal benefit entity that is not required to be audited annually by the state board of accounts, that the municipal benefit entity must be audited by an independent accounting firm acceptable to the contributing municipality; (2) a municipal benefit entity must provide the results of an independent audit to the contributing municipality and, in the case of a municipal benefit entity that receives money under a gaming development agreement, to the gaming commission; (3) a municipal benefit entity shall pay the costs of an independent audit; and (4) the providing of an independent audit by a municipal benefit entity does not result in the municipal benefit entity being considered a public agency for purposes of the open door law or the public records law. Provides that a contributing municipality shall after June 30, 2008, contractually require, as a condition of providing public money to a municipal benefit entity, that the members of the governing body or chief executive officer of the municipal benefit entity shall annually file a verified written certification with each contributing municipality stating that a written statement of accounts has been prepared. Requires the fiscal body of a contributing municipality to review the amount of public money attributable to: (1) the municipality; (2) an agreement
    Current Status:
     In Committee - 2nd House
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