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AZ HB2367
Bill
Status
4/17/2017
Primary Sponsor
Phil Lovas
Click for details
AI Summary
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Transfers debt reporting authority from the State Treasurer to the Department of Administration for all state and local government debt disclosure.
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Requires state and local governments to report debt information including issue date, purpose, original amount, current balance, and interest paid according to a schedule set by the Department of Administration.
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Directs the Department of Administration to maintain an online searchable database of all reported debt and may require additional information with Joint Legislative Budget Committee approval.
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Establishes a debt oversight commission within the Department of Administration consisting of the department director as chairman plus four private citizens knowledgeable in finance, appointed with three-year terms, to review bonded indebtedness and report findings to the governor and legislature.
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Commission automatically terminates July 1, 2026 under Arizona's statutory termination provisions.
Legislative Description
Administration department; reporting; public debt
Public Finances
Last Action
Chapter 156
4/17/2017