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AB 506-Page 1 Date of Hearing: May 4, 2015, ASSEMBLY COMMITTEE ON BANKING AND FINANCE Matthew Dabbled, Chair AB 506 (Maienschein) As Amended April 23, 2015, SUBJECT: Limited liability companies SUMMARY:
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AB 506 refers to Assembly Bill 506, a California law that requires local governmental agencies to disclose debt information to the public.
Local governmental agencies in California are required to file AB 506.
AB 506 can be filled out by providing detailed information about the agency's outstanding debt, including the amount, purpose, and repayment terms.
The purpose of AB 506 is to provide transparency and accountability regarding local government debt by making the information accessible to the public.
The information that must be reported on AB 506 includes the amount of outstanding debt, its purpose, the repayment terms, and the agency's contact information.
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