Bill > A3172

Introduced Session

This bill creates a State Debt Capacity Advisory Commission with members from the legislative branch and the public that will prepare an annual State debt affordability analysis. The annual State debt affordability analysis by the State Debt Capacity Advisory Commission, will include: (1) a detailed analysis and narrative discussion of the State's ability to afford an increase in its overall debt by incurring additional debt, and (2) nonbinding, advisory information on the affordability of the amount of any such increase for purposes of assisting State policymakers evaluate priorities for legislative and executive considerations that may impact the amount of State debt that may be incurred or issued during future State fiscal years. The annual report to be prepared, published and made available to the public, no later than December 1, will include: ? An estimate of revenues available for the next ten fiscal years to pay debt service on State debt, including State general revenues plus any revenues specifically pledged to pay debt service; ? An estimate of additional debt issuance for the next ten fiscal years for the State's existing borrowing programs; ? A schedule of the annual debt service requirements, including principal and interest allocation, on outstanding State debt and an estimate of the annual debt service requirements on State debt for each of the next ten fiscal years; ? The calculations and listing of pertinent debt ratios, including, but not limited to, debt service to State revenues available to pay debt service, debt to State total personal income, and debt per capita for the State's net tax-supported debt; ? The estimated debt capacity available over the next ten fiscal years benchmarked to various ratios of debt service to State revenue; ? A comparison of the State's debt ratios with the comparable debt ratios for the ten most populous states; and ? Such other information as the commission deems relevant to the foregoing matters. The analysis, narrative discussion and nonbinding advisory information reported by the commission shall not constitute an official State disclosure statement of material information that is required to be provided by State issuers of debt and shall not represent a finding or an opinion of any State debt issuing official. The commission shall be comprised of nine members, two of whom shall be the State Auditor, ex officio, or a designee, and the Legislative Budget and Finance Officer, ex officio, or a designee, three of whom shall be appointed by the Governor who shall be members of the public with education and experience in areas of public budget and finance, and who shall not hold elective or other public office; and four of whom shall be appointed, one each, by the Senate President, the Senate Minority Leader, the Assembly Speaker, and the Assembly Minority Leader, each of whom shall be members of the public with education and experience in areas of public budget and finance, and shall not hold elective or other public office.

AI Summary

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Jay Webber (R)*,  Antwan McClellan (R),  Erik Simonsen (R), 

Introduced, Referred to Assembly State and Local Government Committee (on 01/13/2026)

Official Document