Bill
LC 3218
Overview: Bill Number: LC 3218, Title: Generally revise laws related to local government financial reporting and audit requirements, Status: (LC) Draft Died in Process, Introduced:
Overview: Bill Number: LC 3218, Title: Generally revise laws related to local government financial reporting and audit requirements, Status: (LC) Draft Died in Process, Introduced: December 17, 2024
Purpose and Intent: This bill aims to update and streamline the financial reporting and audit requirements for Montana's local governments, including cities, towns, and counties.
Key Provisions:
- Increases the financial thresholds that trigger mandatory audits for local governments
- Allows smaller local governments to submit financial reports in a simplified format
- Extends the deadline for local governments to submit annual financial reports
- Requires the state to provide more guidance and technical assistance to help local governments comply with reporting rules
- Authorizes the state to withhold certain funding from local governments that fail to meet reporting deadlines
Affected Parties and Impacts:
- Montana's cities, towns, and counties, which would face reduced administrative burdens and more flexible financial reporting requirements
- State agencies responsible for overseeing and enforcing local government financial accountability
- Taxpayers and the general public, who may have less detailed financial information available from their local governments
Procedural and Timeline Considerations:
This bill is currently in the draft stage and has not been formally introduced in the Montana Legislature. If it were to move forward, it would need to go through the standard legislative process, including committee hearings, floor votes, and potential amendments before reaching the governor's desk for final approval or veto.
Compiled from official sources — confirm details with the bill’s official record.
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