Effective 7-1-2027.
- (1) the principal and interest payable during a calendar year on bonds;
- (2) lease rental payments payable during a calendar year on leases; and
(3) any amount required under an agreement for bonds or leases to be deposited in a sinking fund or other reserve during a calendar year;
of a county, city, or town payable from local income taxes.
- (b) Before August 1 of each calendar year, the fiscal officer of each county, city, and town shall provide the department of local government finance with the total amount of the county's, city's, or town's debt service obligations payable from local income tax revenues that will be due in the ensuing calendar year and, upon request by the department of local government finance, any additional ensuing calendar years.
- (c) The department of local government finance shall annually determine whether each county, city, or town with debt service obligations due in the ensuing year has timely submitted to the department of local government finance the information required under this section.
Sec. 2.5. (a) As used in this section, "debt service obligations" refers to:
As added by P.L.157-2026, SEC.113.