§ 15-4-220 - Audit of economic incentive programs.
15-4-220. Audit of economic incentive programs.
(a) In order to provide information to the General Assembly regarding the benefits of certain economic incentive programs, the Division of Legislative Audit shall prepare a cost-benefit analysis of the incentive programs provided under the Consolidated Incentive Act of 2003, 15-4-2701 et seq.
(b) The analysis may include, but not be limited to:
(1) The dollar amount of incentives actually provided;
(2) The direct and indirect state and local benefits associated with each program; and
(3) The safeguards to protect noneconomic influences in the award of incentives.
(c) (1) The analysis may be conducted annually on a rotating basis so that each incentive program provided under the Consolidated Incentive Act of 2003, 15-4-2701 et seq., is evaluated at least one (1) time every five (5) years.
(2) Should the division's staff be insufficient to conduct the scheduled analysis in a given year, the executive committee of the Legislative Joint Auditing Committee may establish the priority and number of programs that can be reasonably analyzed with available resources for a particular year.
(d) (1) All records, data, and other information from whatever source that the Legislative Auditor deems necessary in the examination of the incentive programs shall be made available to the division.
(2) However, nothing in this subsection authorizes or permits publication of information protected from publication by law.
(3) Records and information exempt from public disclosure shall remain exempt in the custody of the division.