SB 94 Summary

• Establishes a new office of state controller effective January 1, 2023, consolidating the powers and duties of the auditor of state and treasurer of state into a single elected position.

• The state controller will be elected at the 2022 general election and every four years thereafter, with a four-year term beginning January 1 and a base salary of $77,000 annually adjusted for cost-of-living increases.

• All powers, duties, liabilities, records, property, appropriations, and employees of the auditor of state and treasurer of state offices automatically transfer to the state controller on January 1, 2023.

• The state controller assumes accounting, treasury management, investment, warrant processing, and financial reporting duties previously held by both the auditor and treasurer, including maintaining all state accounts and managing the state treasury.

• Statutes relating to the auditor of state and treasurer of state expire January 1, 2023, with the legislative services agency directed to prepare conforming amendments during the 2023 session.