House Committee Substitute

HCS/SB 95 - Under current law, a provision allowing counties to decrease their annual budgets expired on July 1, 2016. This act extends the expiration date to July 1, 2027.

The act provides that certain political subdivisions shall issue certain debts through a competitive process. An exception to this requirement is made for subdivisions which employ the services of a municipal advisor.

The act provides that any person who is engaged as a municipal advisor by a political corporation or subdivision with respect to a particular issue of securities shall be independent of the underwriter of that issue of securities. The act also defines "municipal advisor".

The act provides that the State Treasurer shall make relevant information regarding debt issuance and bidding practices available to certain political subdivisions.

The act contains provisions similar to HCS/HB 950 (2017), HB 545 (2017), SB 676 (2016) and SCS/SB 326 (2015).


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