HB1743 Summary

• Amends the State Finance Act to authorize transfers from 121 specified state funds into the Audit Expense Fund within 30 days of the bill's effective date.

• Transfers range from $517 (Federal High Speed Rail Trust Fund) to $17,653,153 (General Revenue Fund), totaling approximately $21.5 million for audit expenses.

• Allows the Auditor General to bill private entities, related organizations, and entities with locally-held funds for the cost of audits, studies, and investigations, with revenues deposited into the Audit Expense Fund.

• Permits the Auditor General to direct transfers from authorized funds during each fiscal year and requires return of excess amounts to their original funds by September 30 if transfers exceed actual audit costs.

• Takes effect immediately upon becoming law.