This bill establishes specific timelines for the Commissioner of Education to review and approve annual certified audits submitted by approved private schools for students with disabilities (APSSDs). It stipulates that the Commissioner cannot issue any adverse findings, adjustments, or penalties regarding these audits beyond seven years from the submission date. For audits related to school years ending before the bill's effective date, the Commissioner has until either seven years from the submission date or two years after the bill's effective date, whichever is later, to take action. If the Commissioner fails to complete the audit review within these timelines, the audit will be automatically deemed approved.

The intent of the bill is to address the significant delays that have historically plagued the audit review process, which can extend for 20 years or more, causing budgeting challenges for both APSSDs and sending school districts. By enforcing these timelines, the bill aims to ensure fairness for APSSDs, allowing them timely notice of audit findings and the opportunity to defend against any adverse outcomes. This legislative change seeks to streamline the audit process and mitigate the financial impact of prolonged review periods on educational institutions serving vulnerable students.