04/17/2000 04:15 PM Senate RES

           HB 304-CLEAN WATER FUND/DRINKING WATER FUND                                                                      
                                                                                                                                
CHAIRMAN HALFORD  announced that  a committee substitute  (CS) was                                                              
prepared for HB 304.  The CS includes changes on page 7 and 11.                                                                 
                                                                                                                                
MS.  JULI  LUCKY,   staff  to  the  Senate   Resources  Committee,                                                              
explained that in  the proposed CS (Version M)  language was added                                                              
to page 7, lines  21 and 22 to allow DEC to have  a set percentage                                                              
of  the market  rate  index for  that class  of  borrowers.   That                                                              
change addresses  a desire expressed  by committee members  at the                                                              
April   10   meeting   that  different   loan   rates   apply   to                                                              
municipalities  and private  utilities.   This  change will  still                                                              
provide  a savings  for  all borrowers.   She  added  that if  the                                                              
market rate  index for  private utilities  was eight percent,  the                                                              
fund would charge them 75 percent of that market rate index.                                                                    
                                                                                                                                
SENATOR TAYLOR  moved to  adopt the CS  as the working  version of                                                              
the committee.  There being no objection, the motion carried.                                                                   
                                                                                                                                
There  being no  further testimony  or  questions, SENATOR  TAYLOR                                                              
moved   SCS  CSHB   304(RES)   from  committee   with   individual                                                              
recommendations.  There being no objection, the motion carried.