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S 0031 - Allows municipalities with less than $500,000 in total revenues to provide a compilation of financial statements

Tracking Level: Passed
Sponsor: Bradley Hutto (D)
Last Action: 6/8/2023 - Act No. 71
Senate Committee: Fin
House Committee: WM
Assigned To:
Advocacy Initiatives 2023Next Bill
Finance/Revenue/TaxesNext Bill
SenateNext Bill

Staff Analysis of the Legislation

03.30.2023 The House Ways and Means Committee adopted an amendment to the bill and adjourned debate to a later date. The amendment changes the Comptroller General to Treasurer and decreases the extension to 90 days.
03.28.2023 The House Ways and Means General Government subcommittee gave this bill a favorable report as amended. The amendment allows the Comptroller General to give counties a 180 day extension to submit an audit.
02.21.2023 The Senate Finance Committee gave this bill a favorable report.
02.14.2023 The Senate Finance Property Tax subcommittee gave this bill a favorable report.
Summary of the bill as introduced: Allows municipalities with less than $500,000 in total revenues to provide a compilation of financial statements instead of an independent audit of financial records. 

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text

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Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299, mail@masc.sc