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Economic Matters Committee backs higher audit thresholds for charities amid debate over oversight
Summary
The Economic Matters Committee voted to advance HB 483, which raises audit thresholds for charitable organizations and adjusts income ranges the secretary of state can review; supporters said it updates thresholds for inflation, while opponents warned it reduces oversight for nonprofits that receive state funds.
The Economic Matters Committee on March 6 voted to advance House Bill 483, which raises the income thresholds and adjusts audit requirements for charitable organizations, amid a sharp debate over whether the changes would weaken accountability for nonprofits that receive state funding.
Lawmaker (speaker 8), the bill sponsor, told the committee HB 483 increases the maximum gross-income threshold at which the secretary of state may require an audit (from $750,000 to $1,000,000) and that the subcommittee accepted an amendment adjusting the lower threshold "from 500,000 to 400,000" to reflect inflation. "There was another amendment that…
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