MD SB593

Raises the annual revenue threshold for audit frequency waivers from $250,000 to $700,000 for municipalities and special taxing districts created by the State

Qualifying entities with revenues below $700,000 over the prior 4 fiscal years may have audits conducted once every 4 years instead of annually, subject to Legislative Auditor approval

Legislative Auditor retains authority to require more frequent audits on a case-by-case basis regardless of revenue level

Effective date: July 1, 2025