Bill Text: NY A01958 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to designated viewers of audits provided to the federal clearinghouse.

Spectrum: Slight Partisan Bill (Democrat 12-5)

Status: (Introduced - Dead) 2015-04-28 - substituted by s298 [A01958 Detail]

Download: New_York-2015-A01958-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1958
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 13, 2015
                                      ___________
       Introduced  by  M.  of  A.  HEVESI,  MONTESANO,  GUNTHER, FAHY, SCHIMEL,
         MAGNARELLI,  GALEF,  WALTER,  CROUCH,  DUPREY,  GOTTFRIED,  HOOPER  --
         Multi-Sponsored by -- M. of A. CAMARA, KEARNS, MARKEY, MOSLEY, SKARTA-
         DOS -- read once and referred to the Committee on Local Governments
       AN  ACT  to  amend  the  general municipal law, in relation to alternate
         viewers of audits provided to the federal clearinghouse
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  The  general  municipal  law  is  amended by adding a new
    2  section 40 to read as follows:
    3    S 40. AUDITS TO FEDERAL CLEARINGHOUSE. 1. LOCAL GOVERNMENTAL  ENTITIES
    4  EXPENDING  FEDERAL FUNDS THAT ARE REQUIRED TO FILE A SINGLE AUDIT TO THE
    5  FEDERAL CLEARINGHOUSE SHALL DESIGNATE ALL RELEVANT STATE  AGENCIES  THAT
    6  ACTED  AS A PASS-THROUGH ENTITY FOR FEDERAL FUNDS, AS DESIGNATED VIEWERS
    7  IN COMPLIANCE WITH THE SINGLE AUDIT ACT OF 1984 AND THE RELEVANT FEDERAL
    8  CIRCULAR GUIDELINES.
    9    2. FOR PURPOSES OF THIS SECTION: (A)  "SINGLE  AUDIT"  SHALL  MEAN  AN
   10  AUDIT  REQUIRED  FOR RECIPIENTS OF FEDERAL FINANCIAL ASSISTANCE EQUAL TO
   11  OR IN EXCESS OF FIVE HUNDRED THOUSAND DOLLARS IN  ANY  FISCAL  YEAR  AND
   12  INCLUDES  THE  MUNICIPALITY'S FINANCIAL STATEMENTS AND THE AMOUNT OF THE
   13  FEDERAL FINANCIAL ASSISTANCE.
   14    (B) "LOCAL GOVERNMENTAL ENTITY" SHALL MEAN A MUNICIPAL CORPORATION, AS
   15  DEFINED IN SECTION TWO OF THIS CHAPTER, OR SPECIAL DISTRICT.
   16    S 2. This act shall take effect upon the enactment of updates made  to
   17  Circular  No.  A-133 by the Federal Office of Management & Budget adding
   18  the ability to designate a viewer to a  single  audit  filing;  provided
   19  that  the federal clearinghouse shall notify the legislative bill draft-
   20  ing commission upon the occurrence of the updates to Circular No.  A-133
   21  in  order  that the commission may maintain an accurate and timely data-
   22  base of the official text of the laws of the state of New York in furth-
   23  erance of effectuating the provisions of section 44 of  the  legislative
   24  law and section 70-b of the public officers law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02196-01-5