State rural electrification authorities and electric membership corporations; removes requirement for Department of Finance approval for issuance of bonds
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Progress
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill removes a requirement that state rural electrification authorities and electric membership corporations need approval from the Department of Finance before issuing bonds or other debts. Currently, these entities must obtain written consent from the Department of Finance before issuing debt. This legislation simplifies the process for these organizations to secure funding for projects, allowing them to issue bonds more freely. The bill takes effect on October 1, 2026.
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