Strengthens the taxpayer protection act by regulating privatization contracts and requiring audits before renewal.

The bill amends the taxpayer protection act to further regulate privatization contracts. It prohibits privatization contracts from allowing payment based on a percentage of revenue or fees. The bill also mandates that the state auditor conduct a financial and performance audit before the renewal of any privatization contract to ensure compliance. The definition of "privatization contract" is expanded to include any agreement resulting from a rebidding of previously privatized services or any agreement renewing or extending a privatization contract.

Strengthens the taxpayer protection act by regulating privatization contracts and requiring audits before renewal.

The bill amends the taxpayer protection act to further regulate privatization contracts. It prohibits privatization contracts from allowing payment based on a percentage of revenue or fees. The bill also mandates that the state auditor conduct a financial and performance audit before the renewal of any privatization contract to ensure compliance. The definition of "privatization contract" is expanded to include any agreement resulting from a rebidding of previously privatized services or any agreement renewing or extending a privatization contract.