Additionally, the act creates the Government Lending Transparency Act in which each administering agency, as defined in the act, is required to report to the State Auditor not later than August 30 of each year the following information:

· The name and statutory authority for each lending program and credit support program administered by the agency;

· For the immediately preceding fiscal year, the total dollar amount of all lending for each lending program administered by the agency and the total amount of debt supported by each credit support program administered by the agency; and

· For the immediately preceding fiscal year, the reasonable estimates of the costs of likely defaults for each lending program and credit support program administered by the agency, using private sector accounting standards to evaluate the likelihood and costs of defaults.

The State Auditor is required to make an annual report compiling all of the data received from administering agencies under this act and submit it to the General Assembly not later than December 15 of each year.

Intentional or knowing failure to comply with any reporting requirement contained in this act is punishable by a fine of up to two thousand dollars.

This act contains provisions that are identical to provisions in the truly agreed to and finally passed SCS/HCS/HB 362 (2021), the perfected HCS/HBs 928 & 927 (2021), and HCB 1 (2021), substantially similar to provisions in the perfected HCS/HB 814 (2021), and similar to SB 605 (2021) and HCS/HB 1177 (2021).