CA SB490

Raises audit/review requirements for entities receiving regional center payments: entities receiving $500,000-$2,000,000 annually must obtain independent audit or review reports; entities receiving $2,000,000+ must obtain independent audits.

Exempts payments made using usual and customary rates and social security benefit payments from audit requirements.

Allows entities to apply for 2-year exemptions from audit/review requirements if prior audits show no issues impacting regional center services or if audit opinions are unmodified/qualified with non-material issues.

Requires regional centers to notify the state department of all qualified opinion reports and significant issues identified within 30 days of receipt and to take action up to termination of vendorization for unresolved issues.

Changes deadline for submitting audit reports to regional centers from 30 days to 9 months after fiscal year end.