Separate Governmental Entity Transparency

The act requires a separate legal entity established by a contract by a combination of political subdivisions of the state to file a copy of the contract and any amendments to the contract with the division of local government in the department of local affairs. Also, if such a legal entity issues bonds, notes, or other financial obligations, it becomes subject to the 'Public Securities Information Reporting Act' and must file an annual information report, to the extent practical, as required by that act.

(Note: This summary applies to this bill as enacted.)