SB163 Summary

• Creates a new Division of Property Investigations within the Office of the State Auditor to investigate loss, theft, or damage of state property valued at $500 or more and demand repayment from negligent officials or employees.

• Requires property managers to report loss or theft of inventoried state property to the State Auditor within 30 days of discovery.

• Authorizes the State Auditor to adjust the $500 property inventory threshold every four years beginning October 1, 2025, based on cumulative changes in the Consumer Price Index, rounded to the nearest $100.

• Exempts Department of Corrections and Department of Youth Services property located behind security bars from the standard property inventory audit process, allowing alternative audit methods in those secured areas.

• Empowers the Attorney General to bring civil actions to recover amounts owed for negligent loss or damage of state property, and requires referral to the Attorney General or district attorneys of matters involving suspected criminal violations.