TIF Pooled Debt Form

In addition to filing an Annual TIF Reporting Form for each district, authorities must also submit a TIF Pooled Debt Form for any outstanding pooled debt. Forms are available in the State Auditor Form Entry System (SAFES) and are due at the same time as Annual TIF Reporting Forms. Authorities that have pooled debts for which a Pooled Debt Form was not previously filed, please contact our office and we can generate a form for that debt.

A pooled debt is any bond or other financial obligation to which tax increment from two or more TIF districts have been pledged to pay, or are used to pay, debt service payments. In addition, if multiple TIF districts receive proceeds from a single TIF bond this form is required, even if only one district is pledged and making payments. Pooled debt may include general obligation bonds, revenue bonds, external loans, interfund loans, notes, and PAYG contracts. If a pooled debt is refunded, a new Pooled Debt Form should be submitted for the refunding bond.

The following are examples of bonds or other financial obligations that are NOT considered “pooled debt” for purposes of the Pooled Debt Form:

• If a single bond issue has been divided into several series and the tax increment from a single TIF district is pledged to a series, then the series is not considered a pooled debt, unless tax increment from more than one TIF district actually is used to pay debt service on that series.
• If a bond or other financial obligation is backed by tax increment from a single TIF district and a non-tax increment revenue source, then it is not considered a pooled debt, unless tax increment from more than one TIF district actually is used to pay debt service on the bond.

If you need a Pooled Debt Form created, or you have any questions concerning pooled bonds, please contact our office.

Last referenced April 26, 2024 in the State Auditor's Weekly Update.