Bill > SB1750

This bill amends the Tennessee Code Annotated to require local governments issuing debt under the Local Government Public Obligations Act of 1986 or the Public Building Authorities Act of 1971 to seek approval from the state comptroller or their designee prior to issuing the debt, if the debt poses a heightened financial risk to the local government or is issued by a local government experiencing financial difficulties, as defined by the state funding board. The bill also makes related changes to how the principal of debt is treated for the purposes of a particular section.