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2020 Session

Budget Amendments - SB30 (Committee Approved)

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DCAC Debt Issuance Review Workgroup (language only)

Item 264 #1s

Item 264 #1s
Finance
Secretary of Finance

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. 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."

Explanation

(This amendment directs the Secretary of Finance, in his role as chair of the DCAC, to convene a group of stakeholders to examine the process by which the various state component units authorized to issue state tax-supported debt must report to the DCAC, prior to the issuance of any such debt, and to deliver a report on the workgroup's findings by November 1, 2020.)

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