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Cal. Gov. Code § 62255

Affordable Housing Authorities

Redline — January 1, 2017 → current.View current text →
Current — January 1, 2019
As of January 1, 2017
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.
Commencing 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, and each year thereafter, the authority shall contract for an independent audit conducted in accordance with generally accepted governmental auditing standards.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.