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MS SB2870
Bill
AI Summary
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Permits bond proceeds from legislation passed after July 1, 2018, to reimburse the Department of Audit for reasonable actual and necessary costs incurred in providing services related to funded projects
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Requires the Department of Audit to maintain detailed accounting of actual costs incurred for each project seeking reimbursement
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Limits reimbursements to the lesser of 5% of bond issuance amount or $20,000 per project, unless bond authorization legislation specifies otherwise
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Allows the Department of Audit to escalate its budget and expend reimbursed funds consistent with federal fund escalation policies and Department of Finance and Administration rules
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Takes effect July 1, 2018
Legislative Description
Bonds; authorize the Dept. of Audit to be reimbursed certain costs from the proceeds of bond issues. .
Last Action
Died In Committee
1/30/2018