The proposed bill amends the Legislative Performance Audit Act to redefine key terms, update outdated provisions, and modify requirements for tax incentive performance audits. Notable changes include the redefinition of "working papers" to encompass "planning documents" and the transition of auditing standards from the 2018 to the 2024 revision of the Government Auditing Standards. The bill mandates that tax incentive performance audits will now assess whether programs are achieving specific economic goals and requires a review of each program at least once every five years.

Additionally, the bill introduces provisions that establish the confidentiality of audit-related documents, specifying that working papers and correspondence between the auditing office and agencies will not be classified as public records. It also allows the Legislative Performance Audit Committee to present tax incentive performance audit reports at joint hearings with the Appropriations and Revenue Committees on a discretionary basis, rather than as a requirement. Furthermore, the bill repeals several sections of the Reissue Revised Statutes of Nebraska, indicating a significant update to the legal framework surrounding the confidentiality and management of audit documents.

Statutes affected:
Introduced: 50-1203, 50-1204, 50-1205.01, 50-1209, 50-1211, 50-1213