Authorizes the comptroller to audit local development corporations

S 3405 authorizes the state comptroller to audit local development corporations incorporated under the not-for-profit corporation law. The bill adds a new section to the law explicitly granting the comptroller this authority for all such entities. It applies directly to local development corporations - nonprofits focused on community development projects - and formalizes the comptroller's existing audit role without altering audit procedures. The bill was referred to the Corporations, Authorities and Commissions committee on January 27, 2025.