1.1 	A bill for an act
1.2 	relating to taxation; local government aid; modifying audit requirement;
1.3 	amending Minnesota Statutes 2014, section 477A.017, subdivisions 2, 3.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2014, section 477A.017, subdivision 2, is amended to 
1.6 	read:
1.7 		Subd. 2.State auditor's duties. The state auditor shall prescribe uniform financial 
1.8 	accounting and reporting standards in conformity with national standards to be applicable 
1.9 	to cities and towns of more than 2,500 population and uniform reporting standards to be 
1.10 	applicable to cities and towns of less than 2,500 population.

1.11 	EFFECTIVE DATE. This section is effective for reporting of financial information 
1.12 	for years ending on or after December 31, 2015.

1.13 	Sec. 2. Minnesota Statutes 2014, section 477A.017, subdivision 3, is amended to read:
1.14 		Subd. 3.Conformity. Other law to the contrary notwithstanding, in order to receive 
1.15 	distributions under sections 477A.011 to 477A.03, counties and,  cities, and towns must 
1.16 	conform to the standards set in subdivision 2 in making all financial reports required to be 
1.17 	made to the state auditor after June 30, 1984.

1.18 	EFFECTIVE DATE. This section is effective for reporting of financial information 
1.19 	for years ending on or after December 31, 2015.