Synopsis As Introduced Amends the Governmental Account Audit Act, Counties Code, and Illinois Municipal Code. Provides that all specified governmental units, counties, and municipalities must submit specified reports with the Comptroller electronically, and the Comptroller must post the reports on the internet no later than 45 days after they are received. Provides that the county board of any county (now, counties having a population of over 10,000 but less than 500,000) shall be required to perform an annual audit on funds and accounts of the county, which shall be filed with the Office of the Comptroller. Provides that the requirement concerning electronic filing may be waived if sufficient evidence is provided to the Comptroller that the report cannot be filed electronically. Sets forth posting requirements and penalties for delinquent reports. Limits the concurrent exercise of home rule units. Effective immediately.