HB1456 Summary

• Amends the State Finance Act Section 6z-27 to modify how moneys are transferred into the Audit Expense Fund from various state funds.

• Requires the State Comptroller and Treasurer to transfer specified dollar amounts from over 100 different state funds into the Audit Expense Fund within 30 days of the bill's effective date, with amounts ranging from $503 to $1,332,369.

• Authorizes the General Assembly to use funds for audit expense purposes and permits the Auditor General to bill private entities and non-subject entities for audit costs.

• Provides that if funds are unavailable for transfer due to deficiency, the General Revenue Fund shall cover the shortfall.

• Takes effect immediately upon becoming law.