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ARIZONA STATE SENATE
Fifty-Fifth Legislature, Second Regular Session
AMENDED
technical correction;
release of animals
(NOW: JLBC; reporting)
Purpose
Requires the annual Joint Legislative Budget Committee (JLBC) report on state debt and obligations to include outlined information for the next fiscal year, rather than the most recent fiscal year.
Background
By January 31 of
each year JLBC must present to both the Senate and House of Representatives
appropriations committees a report on state debt and obligations that includes:
1) outstanding general obligation bonds; 2) long-term notes and obligations; 3)
certificates of participation and other obligations relating to lease-purchase
agreements; 4) revenue bonds; and 5) deferred rollover payment obligations. The
report for the most recent fiscal year must also contain: 1) the statewide
aggregate level of outstanding principal; 2) an itemization of the original due
date of each deferred payment for deferred rollover payment obligations and
interest payments; 3) information on per capita state debt and obligations; and
4) information on the
10-year history of state debt and obligations based on available data (A.R.S.
§ 41-1277).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Requires the annual JLBC report on state debt and obligations to include the prescribed information for the next fiscal year, rather than most recent fiscal year.
2. Removes the requirement that the annual JLBC report on state debt and obligations be based on data available from the Arizona Department of Administration (ADOA) online accessible and searchable database of all incurred state and local government debt.
3. Removes the requirement that a link to the online accessible and searchable database of all incurred state and local government debt maintained by ADOA be posted on the JLBC website.
4. Makes technical changes.
5. Becomes effective on the general effective date.
Amendments Adopted by Committee
ˇ Adopted the strike everything amendment.
Senate Action
APPROP 2/22/22 DPA/SE 7-2-1
Prepared by Senate Research
February 24, 2022
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