HB 5551

Abstract

Amends the Housing Authorities Act. Requires every Housing Authority located in a municipality of less than 1,000,000 inhabitants (rather than every Housing Authority) to present as part of its annual report specified financial statements detailing expenditures and disbursements for each housing project. Requires housing authorities located in municipalities of more than 1,000,000 inhabitants to compile information required under the Act under regulations prescribed by the Department of Housing and Urban Development and to make such information available to the public upon request. Repeals a provision requiring the housing authorities to submit these statements to their respective city councils not later than 3 months following the close of the preceding fiscal year of the authorities. Makes other changes. Effective immediately.