Relating to audits of public contracts; appropriating money; declaring an emergency.
Catchline/Summary:
Requires contracting agency to pay fee to Secretary of State in amount of one-tenth of one percent of contract price for public improvement contract. Requires contracting agency to pay fee to Secretary of State in amount of one-tenth of one percent of contract price for public improvement contract. Requires Secretary of State to use proceeds of fee to conduct random] or enter into contract with person to conduct, without notice, financial, performance and compliance audits of public contracts in accordance with certain standards.
Establishes Public Contracting Audit Account in General Fund of State Treasury. Continuously appropriates moneys in account to Secretary of State for purpose of conducting audits of public contracts.
Declares emergency, effective on passage.
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HB 3415 Joint Committee On Ways and Means Subcommittee On General Government
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