Whereas, The deferred operation of this act would tend to defeat its purpose, which is to immediately make certain corrective changes in certain general and special laws, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Section 34 of chapter 121B of the General Laws, as appearing in the 1986 Official Edition, is hereby amended by adding the following three sentences:- Commencing with the first of January, nineteen hundred and eighty-seven, housing authorities which have received federal financial assistance may satisfy the requirements of the Single Audit Act of 1984, 31 USC 7501 et seq. by causing audits of its records to be made annually or biennially by an independent auditor to be selected by such housing authorities to conduct such audits. Any housing authority acting under the requirements of this section which submits to the office of the state auditor audited financial statements which the state auditor deems to be suspect, deficient, or inconsistent with prescribed standards set forth by the department shall cause an audit to be made of its accounts on an annual basis for the three successive years following the audit in question. Such audits shall be made in accordance with generally accepted government auditing standards.
SECTION 2. Chapter four hundred and thirteen of the acts of nineteen hundred and eighty-seven is hereby repealed.
SECTION 3. Chapter 465 of the acts of 1987 is hereby amended by striking out section 36 and inserting in place thereof the following section:-
Section 36. Said section 29 of said chapter 151A is hereby further amended by striking out the word "fifteen", inserted by section 35 of this act, and inserting in place thereof the following word:- twenty-five.
SECTION 4. Section one shall take effect on January eighteenth, nineteen hundred and eighty-eight. Section three shall take effect on January first, nineteen hundred and eighty-eight.