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HF 1362

as introduced - 89th Legislature (2015 - 2016) Posted on 03/02/2015 01:26pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 03/02/2015

Current Version - as introduced

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A bill for an act
relating to taxation; local government aid; modifying audit requirement;
amending Minnesota Statutes 2014, section 477A.017, subdivisions 2, 3.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2014, section 477A.017, subdivision 2, is amended to
read:


Subd. 2.

State auditor's duties.

The state auditor shall prescribe uniform financial
accounting and reporting standards in conformity with national standards to be applicable
to cities and towns of more than 2,500 population and uniform reporting standards to be
applicable to citiesnew text begin and townsnew text end of less than 2,500 population.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for reporting of financial information
for years ending on or after December 31, 2015.
new text end

Sec. 2.

Minnesota Statutes 2014, section 477A.017, subdivision 3, is amended to read:


Subd. 3.

Conformity.

Other law to the contrary notwithstanding, in order to receive
distributions under sections 477A.011 to 477A.03, counties deleted text beginanddeleted text endnew text begin, new text end citiesnew text begin, and townsnew text end must
conform to the standards set in subdivision 2 in making all financial reports required to be
made to the state auditor deleted text beginafter June 30, 1984deleted text end.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for reporting of financial information
for years ending on or after December 31, 2015.
new text end