DCAC Debt Issuance Review Workgroup (language only)

Item 264 #2c

Language

Page 249, line 7, before "The" insert "A."

Page 249, after line 11, insert:

"B. The Secretary of Finance, in his role as chair of the Debt Capacity Advisory Committee (DCAC), shall convene a workgroup of relevant stakeholders to examine the process, procedures, and other requirements necessary for the various agencies, institutions, and authorities of the Commonwealth, for which the authority to issue state tax-supported debt has been vested, to report to the DCAC prior to the issuance of any such state tax-supported debt. As a part of this evaluation of the Commonwealth's debt policies, the DCAC shall also examine whether a separate capacity model should be developed for transportation outside of the overall state tax-supported debt model. A report detailing the workgroup's recommendations shall be delivered to the members of the DCAC, and the Chairs of the House Appropriations and Senate Finance and Appropriations Committees by November 1, 2020."