Relating to fiscal transparency for bonds issued by local governmental entities.

Contracts

• Bond Counsel & Financial Advisor Agreements: You must amend engagement letters to explicitly designate *who* is responsible for generating and submitting HB3526 data.
• Underwriting Agreements: Include representations warranting that the issuer is in full compliance with BRB reporting to ensure marketability.

Hiring/Training

• Compliance Staff: No new licenses required, but staff must be trained to segregate data by proposition number, not just by aggregate bond package.
• Financial Modeling: Financial Advisors must finalize debt service models earlier in the process to meet the "20 days prior to election" reporting deadline.

Reporting & Record-Keeping

You must integrate three new "hard" deadlines into your compliance calendar:

• 1. Pre-Election Report (T-Minus 20 Days): Submit proposition numbers, purpose, issuance costs, and estimated debt service to the BRB no later than 20 days *before* the election.
• 2. Post-Election Report (T-Plus 20 Days): Submit voting results and updated financial estimates to the BRB no later than 20 days *after* the election.
• 3. Annual Unissued Report (Sept 30): Submit a breakdown of all voter-approved but unissued bonds, citing the specific authorizing statute for each.

Fees & Costs

• Administrative Costs: Expect a slight increase in professional fees from Bond Counsel or Financial Advisors for the preparation of these additional filings.
• No Statutory Fees: The bill does not impose a filing fee payable to the state.