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NJ S386
Bill
Status
1/9/2024
Primary Sponsor
Joseph Pennacchio
Click for details
AI Summary
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Expands the State Auditor's authority to conduct performance review audits of entities receiving funds from political subdivisions of the State, in addition to those receiving State funds
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Requires the State Auditor to prominently publish all audit reports and performance review results on the Legislature's homepage for at least 14 calendar days following release, and maintain them on a dedicated State Auditor webpage
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Mandates performance review audits of all New Jersey Economic Development Authority business assistance and incentive programs at least once every two years
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Audits must cover all EDA programs providing monetary or financial assistance, including grants, loans, loan guarantees, tax credits, tax exemptions, and other benefits to businesses, including film and digital media production companies
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Requires the State Auditor to transmit audit reports to the Legislature within six months of completing each biennial performance review
Legislative Description
Expands audit powers of State Auditor; requires online publication of certain materials; requires performance review audits of certain business incentive programs.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/9/2024