What was previously set as a Senate Constitutional Amendment has now reappeared in Senate Bill 165. Titled "Local Agency Special Tax and Bond Accountability Act," this bill would place new reporting and accounting requirements on every bond issue or special tax voted upon by local citizens. The League is seeking comments on this bill. Please review the section on bonds. Is the bill clear on the annual reporting requirements, for example, would reporting be required for the life of the project or the life of the bond. If for the life of the bond, what extra reporting burden would be placed on your operations? If you recently have implemented a special tax or are considering doing so, have you identified a "single special purpose" for the proceeds and how would you report on the project purpose annually? The bill is scheduled for committee hearing on July 5, so your comments would be appreciated this week. Thanks for your prompt attention. Frances Medema Policy Analyst League of California Cities 1400 K Street Suite 400 Sacramento, CA 95814 phone: 916/658-8218 fax: 916/658-8240 email: [EMAIL PROTECTED]
