Indiana 2020 Regular Session Status: In Committee 1 R cosponsors

SB 76 — State and local audit examinations.

Last action — First reading: referred to Committee on Tax and Fiscal Policy

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Requires, beginning July 1, 2020, the uniform compliance guidelines for audit examinations of state or local units conducted by the state board of accounts to include a required disclosure of any pledge, covenant, or agreement that the unit has made as security or guarantor for a private bond issue of a private company. Requires any entity that: (1) is subject to examination or audit by the state board of accounts; and (2) has made a pledge, covenant, or agreement as security or guarantor for a private bond issue of a private company; to disclose such fact in the notes of the entity's financial statements. Requires, beginning July 1, 2020, the fiscal officer of a political subdivision that is subject to audit by the state board of accounts to prepare a debt capacity analysis report (report) and present the report to the fiscal body of the political subdivision in a public hearing before the political subdivision may issue or guarantee any debt obligation. Requires, not later than July 1, 2020, the state board of accounts, with the assistance of the department of local government finance, to prescribe a standard form report that must be used by a fiscal officer in the presentation. Requires the report to include a determination of the percentage of the political subdivision's total debt obligations (including guarantees) compared to the political subdivision's prospective revenue available for debt service.

Bill Text

We don't have the full text on file for this bill yet.

Read SB 76 on the official Indiana source →

Action History

  1. First reading: referred to Committee on Tax and Fiscal Policy

  2. Authored by Senator Buck

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 149 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (149)

149 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does SB 76 do?
Requires, beginning July 1, 2020, the uniform compliance guidelines for audit examinations of state or local units conducted by the state board of accounts to include a required disclosure of any pledge, covenant, or agreement that the unit has made as security or guarantor for a private bond issue of a private company. Requires any entity that: (1) is subject to examination or audit by the state board of accounts; and (2) has made a pledge, covenant, or agreement as security or guarantor for a private bond issue of a private company; to disclose such fact in the notes of the entity's financial statements. Requires, beginning July 1, 2020, the fiscal officer of a political subdivision that is subject to audit by the state board of accounts to prepare a debt capacity analysis report (report) and present the report to the fiscal body of the political subdivision in a public hearing before the political subdivision may issue or guarantee any debt obligation. Requires, not later than July 1, 2020, the state board of accounts, with the assistance of the department of local government finance, to prescribe a standard form report that must be used by a fiscal officer in the presentation. Requires the report to include a determination of the percentage of the political subdivision's total debt obligations (including guarantees) compared to the political subdivision's prospective revenue available for debt service.
Who sponsors SB 76?
SB 76 is sponsored by James Buck (Republican).
What is the current status of SB 76?
This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 76?
Track SB 76 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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