Introduced Senate Bill (S)

Authored by

DIGEST

Debt service funds. Provides that for all taxing units, the maximum amount allowed for an operating balance for a debt service fund is 10% of the budget estimate for the annual debt service payments from the fund for debt incurred after June 30, 2014, and 50% of the budget estimate for debt incurred before July 1, 2014. Debt service funds. Provides that for all taxing units, the maximum amount allowed for an operating balance for a debt service fund is 10% of the budget estimate for the annual debt service payments from the fund for debt incurred after June 30, 2014, and 50% of the budget estimate for debt incurred before July 1, 2014.