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AZ HB2367

Bill

Status

Passed

4/17/2017

Primary Sponsor

Phil Lovas

Click for details

Origin

House of Representatives

Fifty-third Legislature - First Regular Session (2017)

AI Summary

  • Transfers debt reporting authority from the State Treasurer to the Department of Administration for all state and local government debt disclosure.

  • 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.

  • 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.

  • 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.

  • 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

Full Bill Text

No bill text available