WeVote
Log In

Bill

AA

Bill

S 1410

Find It Early Act

119th Congress Introduced by Angela Alsobrooks and 8 co-sponsors

Bill S 1410 boosts the Authorities Budget Office's power to review public authorities' finances, enhancing transparency and accountability to protect taxpayer interests.

Introduced in Senate
0
WeVote Research Nonpartisan
Bill Summary · S 1410

Summary of Bill S 1410: Reviews by the Authorities Budget Office

Overview

Bill S 1410, introduced on January 9, 2025, aims to enhance the oversight and review processes conducted by the Authorities Budget Office (ABO). The bill seeks to improve transparency and accountability in the financial operations of public authorities and related entities.

Purpose and Intent

The primary intent of Bill S 1410 is to ensure that the financial activities of public authorities are subject to rigorous review by the ABO. This is intended to promote fiscal responsibility and ensure that taxpayer funds are utilized effectively. By strengthening the review process, the bill aims to prevent mismanagement and enhance public trust in governmental financial operations.

Key Provisions

  • Enhanced Review Authority: The bill expands the scope of the ABO's review powers, allowing for more comprehensive evaluations of financial practices within public authorities.
  • Reporting Requirements: Public authorities will be required to submit detailed financial reports to the ABO, which will include information on budgets, expenditures, and financial forecasts.
  • Increased Accountability: The bill mandates that the ABO provide regular reports to the legislature on the findings of its reviews, ensuring that lawmakers are informed about the financial health and practices of public authorities.
  • Public Access to Information: The bill emphasizes the importance of transparency by requiring that the findings of the ABO's reviews be made accessible to the public.

Affected Entities

  • Public Authorities: The bill directly impacts all public authorities that receive state funding or operate under state oversight.
  • Taxpayers: By promoting better financial practices, the bill aims to protect taxpayer interests and ensure that public funds are managed responsibly.
  • Legislators: Lawmakers will benefit from enhanced reporting and oversight, enabling them to make informed decisions regarding public authority funding and operations.

Legislative Timeline

  • January 9, 2025: Bill S 1410 was introduced and referred to the Corporations, Authorities, and Commissions Committee.
  • February 11, 2025: The bill was reported for the first time and placed on the calendar for further consideration.
  • February 12, 2025: The bill advanced to a second report calendar.
  • February 24, 2025: The bill was advanced to a third reading.
  • February 25, 2025: The bill passed the Senate and was delivered to the Assembly, where it was again referred to the Corporations, Authorities, and Commissions Committee.

Related Legislation

Bill S 1410 is part of a broader legislative effort to enhance oversight of public authorities, with related bills from prior sessions including:
- S 8659
- S 977
- S 6746

These related bills may provide context or additional measures aimed at improving the governance of public authorities.

Conclusion

Bill S 1410 represents a significant step towards improving the financial oversight of public authorities in the state. By enhancing the review capabilities of the Authorities Budget Office, the bill aims to foster greater accountability and transparency in the use of public funds, ultimately benefiting taxpayers and the legislative process.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.