Skip to main content
Senate Bill 0472


Senate Bill 0472

ARCHIVE (2011)

Latest Information

 

DIGEST OF INTRODUCED BILL


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 unit shall after June 30, 2011, contractually require, as a condition of providing public money to a community benefit organization that is not required to be audited annually by the state board of accounts, that the community benefit organization must be audited by an independent accounting firm acceptable to the contributing unit; (2) a community benefit organization must provide the results of an independent audit to the contributing unit and, in the case of a community benefit organization that receives money under a gaming development agreement, to the gaming commission; (3) a community benefit organization shall pay the costs of an independent audit; and (4) providing an independent audit by a community benefit organization does not result in the community benefit organization being considered a public agency for purposes of the open door law or the public records law. Provides that a contributing unit shall after June 30, 2011, contractually require, as a condition of providing public money to a community benefit organization, that the members of the governing body or chief executive officer of the community benefit organization shall annually file a verified written certification with each contributing unit stating that a written statement of accounts has been prepared. Requires the fiscal body of a contributing unit to review the amount of public money attributable to: (1) the unit; (2) an agreement
    Current Status:
     In Committee - first House
    >Latest Printing > (PDF)