ARIZONA STATE SENATE

LIAM MAHER

LEGISLATIVE RESEARCH ANALYST

APPROPRIATIONS COMMITTEE

Telephone: (602) 926-3171

RESEARCH STAFF

TO:                  MEMBERS OF THE SENATE

APPROPRIATIONS COMMITTEE

DATE:            February 18, 2022

SUBJECT:      Strike everything amendment to S.B. 1179, relating to 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.