Bill Status of HB3856 99th General Assembly
Short Description: MUNI FINANCIAL DISTRESS ALERT
Rep. Marcus C. Evans, Jr.
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Municipal Financial Distress Alert System Act. Requires the State Comptroller to establish an index system to identify municipalities that are in or approaching financial distress. Provides that the Comptroller shall use the index system to indicate municipalities that have failed to submit annual audits or financial reports to the Comptroller as required by law. Requires the Comptroller to annually review audits and financial reports obtained under the Governmental Account Audit Act and publish a report identifying municipalities that are in or approaching financial distress. Defines terms.