As introduced, SB 30 promises to significantly improve debt transparency by making the following changes to the Election Code:
- Requiring voter-approved propositions to include: the total principal amount to be authorized, if approved; a plain language description—rather than a general description—of the single specific purpose for the proposed bonds; and the rate of any tax that will be increased or imposed to pay the principal and interest on the bonds.
- Requiring that voters be offered separate ballot questions for each single specific purpose.