A bill to improve the fiscal responsibility of city and State governments by requiring independent audits from revenue sharing recipients as a condition of eligibility.
Truth in Municipal Accounting Act - Requires that States and units of local government, to qualify for revenue sharing funds, must establish to the satisfaction of the Secretary of the Treasury that they will provide the Secretary with the results of an independant audit of their financial records of the immediately preceeding fiscal year and the budgets of the current and succeeding fiscal years, if available.
Introduced in House
Introduced in House
Referred to House Committee on Government Operations.
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