Comments Requested – New Reporting Requirements for Debt Issuance
November 3, 2016
The California Debt and Investment Advisory Commission (CDIAC) is asking for stakeholder comments on a proposed approach to collecting debt issuance information. Senate Bill 1029 (Hertzberg), signed into law this year, requires state and local agencies to submit annual reports to CDIAC detailing debt issuance, outstanding debt, and use of bond proceeds over the reporting period. These newly required reports are in addition to existing reports currently required for the State Controller’s Office and CDIAC.
As you may recall, CSAC negotiated amendments throughout the 2016 legislative session to reduce reporting burdens and redundancies, as well as limit reports to only current debt (and not historical). Reporting deadlines also mirror established SCO reporting deadlines for counties, cities and special districts. County feedback on the proposed regulations will be critical to ensure the future reporting methodology is cohesive with existing practices and the intent of the bill.
Comments must be submitted by November 18, 2016. Comments should be sent electronically to CDIAC@treasurer.ca.gov. Comments sent in paper form should be sent to the attention of Mark Campbell, California Debt and Investment Advisory Commission, 915 Capitol Mall, Room 400, Sacramento, CA 95814.
CSAC would also appreciate having a copy of your comments. They may be emailed to Dholzem@counties.org. In addition, CSAC welcomes comments directly as conversational feedback to help inform future negotiations during the regulatory process.