HB 2304 Summary

• Establishes the "Recovery Audits for Government Overpayments of Tax Dollars Act" to identify and recover overpayments made by state agencies to individuals, vendors, and other entities.

• Authorizes the State Auditor and Inspector to contract with private consultants for recovery audits, with consultant compensation based on a percentage of recovered funds (no cost to the state).

• Requires recovery audits for state agencies with total expenditures exceeding $50 million per fiscal biennium, or agencies receiving audit findings for internal control weaknesses in payments.

• Mandates the State Auditor provide annual reports to the Governor, Director of the Office of State Finance, and legislative appropriations committees detailing recovery audit findings and exemptions.

• Becomes effective November 1, 2012, with the State Auditor required to adopt implementing rules by January 1, 2013.