§ 63C-25-203 — Debt affordability report.

Utah § 63C-25-203

• Jurisdiction: Utah
• Title 63C: State Commissions and Councils Code
• Ch. 63C-25: State Finance Review Commission

Text

(1) No later than November 1 each year, the state treasurer, with assistance from the Governor's Office of Planning and Budget and the Office of the Legislative Fiscal Analyst, shall prepare and submit a debt affordability report to the commission and the Revenue and Taxation Interim Committee.
(2) The debt affordability report shall include:

(2)(a) as determined by the state treasurer, the amount of tax-supported debt that, during the next fiscal year and annually for the following nine fiscal years:
(2)(a)(i) will be outstanding; and
(2)(a)(ii) has been authorized but is not yet issued;
(2)(b) a projected schedule of affordable, state tax-supported debt authorizations for the next fiscal year;
(2)(c) projected debt-service requirements during the next fiscal year and annually for the following nine fiscal years based upon:
(2)(c)(i) existing outstanding debt;
(2)(c)(ii) previously authorized but unissued debt; and
(2)(c)(iii) projected bond authorizations;
(2)(d) the criteria that recognized bond rating agencies use to judge the quality of issues of bonds issued by the state; and
(2)(e) any other information that is relevant to:
(2)(e)(i) the state's ability to meet its projected debt service requirements;
(2)(e)(ii) the ability of the state to support additional debt service;
(2)(e)(iii) the interest rate to be borne by, the credit rating on, or any other factor affecting the marketability of state bonds; and
(2)(e)(iv) the effect of authorizing new tax-supported debt on each of the considerations described in this Subsection (2).

Legislative History

Enacted by Chapter 207, 2022 General Session