(1) No later than November 1 each year, the state treasurer, with assistance from the Governor's Office of Planning and Budget and the Office of the Legislative Fiscal Analyst, shall prepare and submit a debt affordability report to the commission and the Revenue and Taxation Interim Committee. (2) The debt affordability report shall include: (a) as determined by the state treasurer, the amount of tax-supported debt that, during the next fiscal year and annually for the following nine fiscal years: (i) will be outstanding; and (ii) has been authorized but is not yet issued; (b) a projected schedule of affordable, state tax-supported debt authorizations for the next fiscal year; (c) projected debt-service requirements during the next fiscal year and annually for the following nine fiscal years based upon: (i) existing outstanding debt; (ii) previously authorized but unissued debt; and (iii) projected bond authorizations; (d) the criteria that recognized bond rating agencies use to judge the quality of issues of bonds issued by the state; and (e) any other information that is relevant to: (i) the state's ability to meet its projected debt service requirements; (ii) the ability of the state to support additional debt service; (iii) the interest rate to be borne by, the credit rating on, or any other factor affecting the marketability of state bonds; and (iv) the effect of authorizing new tax-supported debt on each of the considerations described in this Subsection (2).
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