Bill > A178

Introduced Session

To ensure that out-of-State contractors are capable of handling the State or private contract they were awarded, the State should perform audits of those contractors. This bill requires the Division of Taxation to conduct audits of out-of-State contractors. The audits would be related to the State or private contract awarded to the contractors and would include: (1) a determination that administrative expenses have been properly allocated and are reasonable; (2) a review of the internal financial controls; and (3) a review of the annual financial report of the out-of-State contractor. The division would also establish a toll-free hotline number through which persons may confidentially report suspected incidents of wrongdoing or other possible issues in connection with out-of-State contractors. The division would submit the results of an audit of an out-of-State contractor to the contracting agency that awarded the State contract. The division would also submit an annual audit report to the Governor and the Legislature.

AI Summary

Committee Categories

Linda Carter (D)*,  Anthony Verrelli (D)*, 

Introduced, Referred to Assembly Commerce and Economic Development Committee (on 01/11/2022)

Official Document