Finance-locgov Debt Reform

Amends the Local Government Debt Reform Act. In a Section concerning definitions, provides that public corporations are included within the definition of "governmental unit", and deletes provisions that a bureau, board, commission, university, or similar agency of the State is a "governmental unit". Provides that the proceeds of bonds may be used to provide for the payment of interest upon such bonds for a period not to exceed the greater of 3 years (now, 2 years) or a period ending 6 months after the estimated date of completion of the acquisition and construction of the project or accomplishment of the purpose for which such bonds are issued. Provides that bonds must become due within 30…