The most significant change proposed by AB 2149 is related to the penalties imposed on local government officers who fail to file these required reports within a specified timeframe of 20 days after receiving notice from the Controller. The bill establishes a tiered penalty system based on the local agency's revenue, which ranges from $1,000 for agencies with revenues below $100,000 to $5,000 for those exceeding $250,000. Such financial disincentives aim to ensure compliance and prompt submission of financial documentation, thereby improving accountability.
Summary
Assembly Bill 2149, introduced by Assembly Member Aguiar-Curry, aims to amend Section 53895 of the Government Code regarding financial reporting obligations for local agencies within California. The legislation mandates that local governments, including counties, cities, and school districts, must file financial reports annually detailing their transactions and compensation. These reports must be compiled, published, and made publicly accessible by the Controller's office, thus enhancing transparency in financial governance at the local level.
Contention
Opponents of the bill may argue that the penalties are too severe for smaller local agencies, potentially placing undue financial strain on them. Supporters, however, assert that this measure is necessary to enforce compliance and promote financial responsibility among local governmental entities. Ultimately, AB 2149 represents an effort to bolster fiscal transparency and integrity within California's local government structures.
Local government: infrastructure financing districts: Reinvestment in Infrastructure for a Sustainable and Equitable California (RISE) districts: housing development: restrictive covenants.