COM COL-AUDIT COMMITTEE

Amends the Public Community College Act. Requires the board of trustees of each community college district to establish an audit committee. Provides that the audit committee shall have a fiduciary duty that includes, but is not limited to, assessing risk and addressing matters such as financial statement reporting, internal controls, and compliance with applicable laws, rules, and board policies. Sets forth provisions concerning members of the committee, the authority of the committee and the committee's chairperson, duties of the committee's chairperson, and the powers and duties of the committee. Effective immediately.