Bill > HB2015

This bill amends existing Arizona law regarding accounting reports for state budget units, which are essentially state government agencies or departments. The key changes introduce penalties for late submission of financial information. Specifically, if an organization fails to submit accurate and complete final financial statements or information to the Department of Administration (the state agency responsible for financial management) by October 31st, a penalty will be assessed. This penalty is calculated as one-twelfth of one percent of the organization's state general fund appropriation for every thirty days the submission is late, and the amount will be withheld from their future appropriations. Similar penalties are introduced for the late submission of federal expenditure or program information by December 31st, with the same penalty calculation and withholding mechanism. The bill also sets a maximum penalty cap of $8,000,000 or one percent of the organization's state general fund appropriation, whichever is less, and mandates that these maximum penalty amounts be adjusted annually based on changes in the state general fund's available appropriation.

Government Affairs

https://apps.azleg.gov/BillStatus/BillOverview/83548