AN ACT relating to special purpose governmental entities.

This bill raises the dollar thresholds that determine when special purpose governmental entities and fire departments are required to complete audits and financial statements. In other words, smaller local government bodies and fire departments would only need to meet the more detailed financial reporting requirements if they handle funds above the new, higher limits. The changes would take effect July 1, 2026. Who it may affect: local special purpose government entities, volunteer and paid fire departments, and residents who rely on those departments for public safety services.

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