Guidance Offered on New Debt Issuance Reporting Law
January 5, 2017
California Debt and Investment Advisory Commission released guidance documentation to help local government agencies comply with a new law related to debt issuance reporting, established by Senate Bill 1029 (Hertzberg, 2016). As of January 1, 2017, local agencies must certify that before they issue debt that they have adopted local debt policies concerning the use of debt and that the proposed debt issuance is consistent with those policies before seeking to issue new debt.
It also provides guidance for how to report on debt issued after the January 1 effective date in the mandatory annual debt transparency report.