I just read the 47 page PDF and frankly I see nothing to be concerned about.
This sounds like a well thought out emergency plan for what the state can/shall/can't/won't do if a local town or village defaults on its obligations.
Instead of the state simply giving the town/village money, this bill authorizes the state to form committee and advisory groups to go to the town/village to try to fix the problem.
I think this is commendable and I wish my state has such legislation. The Elected leadership here in my county spend money like a mad and when they are defaulting, they just ask the state for more money. Why would the state simply give money to elected officials who have demonstrated a problem handling money?
I am going to find a clean copy of this legislation and E-mail it to my State Senator. Probably won't do any good, but it may make me feel better.
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abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.
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