HB2402 – Full Disclosure Of Bond Costs

On February 18, my first bill, HB2402, passed the Arizona House of Representatives. This update to the statutes was born out of the 2015 bond election where the county had intentionally estimated the interest rate on the bonds to provide the most favorable results in the bond information pamphlets and voter guide.Voters were asked to approve an 8% interest rate, yet the calculations disclosed to voters in the voter information pamphlet “estimated” interest rates between 2.8% to 3.4%.  Pima County voters deserve better, which is I why I worked with State Representative Vince Leach to craft a bill that calls for greater transparency to the public regarding the cost of bonds, and will require counties to show calculations with the highest interest rate requested of the voters. The voters and residents of Arizona deserve nothing less than the full disclosure of the costs of any bond measure they are asked to support. This bond disclosure bill is now on its way to the Arizona Senate and will be heard in the Committee on Government on Wednesday, March 2. If you are enrolled in the Legislature’s Request to Speak program, I encourage you to show your support for this legislation. I also encourage you to contact your state senators and urge their support.

Sincere Regards,

Ally Miller