Illinois Senate Bill 1408

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 31 2025 - 25% progression
Action: 2025-01-31 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately.

GOVT ACCOUNT AUDIT THRESHOLD

Sen. Patrick Joyce [D]

Date	Chamber	Action
2025-01-31	Senate	Referred to Assignments
2025-01-31	Senate	First Reading
2025-01-31	Senate	Filed with Secretary by Sen. Patrick J. Joyce

Chapter	Article	Section	Citation Type	Statute Text
50	310	1	Amended Code	Citation Text
50	310	3	Amended Code	Citation Text
50	310	6	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1408&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/SB/10400SB1408.htm