Amends TCA Section 9-21-151.

Under present law, the Local Government Public Obligations Act provides that not later than 45 days following the issuance or execution of a finance transaction by or on behalf of any public entity, the public entity must submit, or cause to be submitted to the governing body of the public entity, with a copy to the comptroller of the treasury or the comptroller's designee, the following information: <br /> <br /> (1) A brief description of the finance transaction;<br /> (2) The issuance, continuing, and one-time costs of the transaction;<br /> (3) Any continuing disclosure obligations; <br /> (4) A copy of the offering document, if any; and<br /> (5) Such other information and in such manner as may be required by the state funding board.<br /> <br /> This bill adds that the state funding board must require public entities to disclose financial obligations and events of default on the Electronic Municipal Market Access (EMMA) website of the Municipal Securities Rulemaking Board (MSRB) and to disclose events of default to the office of the comptroller of the treasury by those public entities not required by the securities and exchange commission to disclose financial obligations and events of default on the EMMA website of the MSRB within 10 business days.<br /> <br />