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Committee advances bill protecting older local financing agreements from automatic voiding
Summary
The Political Subdivisions Committee approved amendments and a recommendation for House Bill 1537, which adds a limited remedy for municipal and water-district financing agreements made before Jan. 1, 2025 that lacked Public Finance Authority signoff.
The Political Subdivisions Committee recommended a due-pass on House Bill 1537 as amended, moving to protect certain pre-2025 local financing agreements from being automatically voided.
The measure, discussed Feb. 14 during the committee’s session, would add a new subdivision allowing parties to financing agreements executed before Jan. 1, 2025 that would otherwise be void under current law to remain enforceable unless the Public Finance Authority or another state enterprise elects to void them. That election would require a 30-day written notice to the parties. The…
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