This bill amends the existing law regarding audits for communications districts by introducing an exception to the requirement for hiring an outside accountant to conduct financial audits. Specifically, it allows the department of revenue administration to waive the independent audit requirement for any fiscal year if the governing board petitions and demonstrates that the district's annual revenue or expenses were less than $50,000. Additionally, the district must have an agreement stating that it is not a tax authority and prohibits raising revenue from member municipalities except through voluntary contributions or contractual agreements.

The bill modifies RSA 53-G:10 by inserting new language that outlines the conditions under which the audit requirement can be waived, while retaining the existing provisions regarding the hiring of a certified public accountant for audits and the responsibilities of the governing board. The effective date of the act is set for 60 days after its passage, which is August 31, 2026.

Statutes affected:
Introduced: 53-G:10
As Amended by the House: 53-G:10
Version adopted by both bodies: 53-G:10
CHAPTERED FINAL VERSION: 53-G:10
SB585 text: 53-G:10