Bill > S1739

This bill mandates that an annual State debt affordability analysis be incorporated into the State Debt Report, which is a document detailing the state's financial obligations. This analysis will provide a comprehensive review of the state's capacity to take on additional debt, including projections of available revenues for debt service, anticipated future debt issuances, and a schedule of debt service requirements for the next ten years. It will also compare key debt ratios with those of the ten most populous states and review the state's credit rating criteria. The bill requires that any entity issuing debt secured by state revenue must provide the commission with necessary information for this analysis. Furthermore, state agencies must now identify capital projects requiring new debt and evaluate them based on the debt affordability analysis, helping the Governor and Legislature prioritize spending and manage future state debt.