Relating to prudent maximum General Fund-supported debt; declaring an emergency.
Catchline/Summary:
Establishes prudent maximum amount of outstanding General Fund-supported debt as amount for which debt service due in biennium equals five percent of General Fund revenues estimated to be received in biennium. Establishes prudent maximum amount of outstanding General Fund-supported debt as amount for which debt service due in biennium equals five percent of General Fund revenues estimated to be received in biennium.
Prohibits State Treasurer from incurring General Fund-supported debt in excess of prudent maximum amount unless law that authorizes General Fund-supported debt explicitly takes exception to prudent maximum amount.
Declares emergency, effective July 1, 2015.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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