159-33.1. Semiannual reports of financial information.

(a) The finance officer of each unit and public authority shall submit to the secretary on January 1 and July 1 of each year, or other dates as the secretary may prescribe, a statement of financial information concerning the unit or public authority. The secretary may prescribe the information to be included in the statement and may prescribe the form of the statement; provided, however, the secretary shall prescribe that the finance officer of each city and county shall include in the statement the total revenues received from building inspections, by source, and the total expenditures paid from all revenues received, by object.

(b) (Expires February 15, 2021) Notwithstanding the provisions of subsection (a) of this section or any rule or regulation prescribed by the secretary, the finance officer of each county, municipality, water district or authority, sewer district or authority, sanitary district, and metropolitan sewage district shall submit to the secretary a statement of financial information concerning the impact of COVID-19 on the finances of the unit or public authority no later than February 15, 2021. The information in the statement shall include monthly data for the time period of July 1, 2019, through December 31, 2020, on the following: (i) utility payments, including water, sewer, and electric, (ii) reductions in tax revenue, (iii) reductions in services due to reductions in tax revenue, (iv) total revenues received from building inspections, by type, (v) the ability to meet debt service obligations, (vi) the balances of any capital reserve funds, (vii) the purpose of any withdrawals from capital reserve funds, and (viii) any other information prescribed by the secretary. The Local Government Commission shall use the information provided pursuant to this subsection to identify units and public authorities that require assistance similar to that provided to units and public authorities on the Unit Assistance List compiled by the Commission.

(c) (Expires March 15, 2021) No later than March 15, 2021, the Local Government Commission shall report on the information provided by units and public authorities pursuant to subsection (b) of this section, including any recommendations for legislation, to the Joint Legislative Committee on General Government and the Fiscal Research Division. (1973, c. 474, s. 28; 2018-5, s. 21.1(a); 2018-29, s. 4.5(a); 2020-3, s. 4.29(a); 2020-48, s. 1.10(a).)