Review of distribution of federal pandemic funds.

Provides that each state agency directly receiving federal: (1) pandemic relief funds; (2) economic stimulus funds; or (3) loan funds; shall use a portion of the funds allocated to engage an independent third party firm to perform a risk assessment of the agency's controls in administering the use of the funds and to audit the disbursement of the funds. Provides that the auditor of state (auditor) shall engage internal or third party assistance to perform a risk assessment of executive branch agency internal controls for administering and disbursing federal: (1) pandemic relief funds; (2) economic stimulus funds; or (3) loan funds. Provides that upon engaging internal or third party assistance, the auditor shall consult with the state board of accounts and executive branch agencies that are conducting similar risk assessments or audits of federal funds regarding the scope of work being performed by the state board of accounts and executive branch agencies. Provides that before December 31 of each year, the auditor shall compile the auditor's findings and provide a report to the governor and to the legislative council. Appropriates to the auditor $500,000 from the coronavirus local fiscal relief funds made available to the state under the American Rescue Plan Act of 2021.