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Senate passes bill creating statutory framework for local fiscal watches and fiscal emergencies
Summary
The Senate passed House Bill 35 17, establishing procedures for identifying, monitoring and remediating fiscal emergencies in local governments, granting the state auditor oversight and specifying processes for recovery plans, appeals and municipal dissolution.
Junior senator from the sixteenth explained House Bill 35 17 on the floor as a comprehensive statutory framework to identify, monitor and remediate fiscal emergencies in local governments.
According to the senator, the bill creates procedures for initiating a fiscal watch (by the state auditor or a local governing body), requires submission of a financial recovery plan within 90 days of notice of a fiscal watch, and…
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