HB 3526 – Local bond transparency

HB 3526 strengthens financial transparency around local government bond debt. It requires local entities to disclose key information about proposed and issued bonds—including costs and voter approval data—through an easy-to-access online database run by the Bond Review Board. Taxpayers will be able to see, in plain terms, how much debt is being taken on, what it will cost over time, and whether it requires higher taxes. By tracking both issued and unissued bonds and requiring reports on repayments and tax rate impacts, the bill provides a clear picture of local debt burdens. This empowers voters with the facts they need before authorizing new debt and curbs the tendency for local governments to hide the long-term costs of borrowing. It’s a limited-government solution that shines light on local borrowing practices, helping to protect taxpayers from hidden liabilities.