WASHINGTON -- A California Debt Advisory Commission report, due to be released next month, will recommend that issuers invite public scrutiny of planned lease offerings and voluntarily schedule referendums on controversial lease issues.

Drafts of the report, which contains the first guidelines by the nation's largest leasing state, already have provoked controversy in the leasing industry, which views leasing's general exemption from constitutional debt restrictions and voter approval requirements as a bankable asset.

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