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House approves inflation adjustment to charity audit thresholds amid oversight concerns
Summary
Lawmakers voted to raise the Secretary of State's thresholds for financial review and audit of registered charities to reflect inflation (financial review threshold to $400,000; audit threshold to $1,000,000). Supporters said the change simply updates 2016 standards; critics warned it could reduce oversight of organizations receiving donations.
The House voted to adjust the financial‑review and audit thresholds that apply to charities registered with the Secretary of State, approving a bill that updates 2016 dollar thresholds for inflation.
Under the change explained on the floor, the threshold that triggers a required financial review would rise to about $400,000 and the audit threshold would rise to about $1,000,000. The bill narrowly drew sharp questions…
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