§ 62255

Every five years, beginning in the calendar year in which the authority has allocated a cumulative total of more than one million dollars ($1,000,000) in property tax increment revenues pursuant to subdivision (a) of Section 62253 or other revenues pursuant to subdivision (b) of Section 62253, including any proceeds of a debt issuance, the authority shall contract for an independent audit conducted in accordance with generally accepted governmental auditing standards.

(Added by Stats. 2017, Ch. 764, Sec. 1. (AB 1598) Effective January 1, 2018.)