Legislature(1995 - 1996)

04/24/1995 03:20 PM L&C

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
 HB 251 - NATIVE CORPORATIONS                                                
                                                                               
 Number 061                                                                    
                                                                               
 CHAIRMAN KOTT referred to the last committee hearing on HB 251                
 and said the committee adopted some amendments.  Those amendments             
 have been included in the committee substitute (CS), Version M,               
 dated 4/17/95.  He informed the committee there is another CS,                
 Version O, dated 4/24/95.                                                     
                                                                               
 Number 072                                                                    
                                                                               
 REPRESENTATIVE NORMAN ROKEBERG moved the CS for HB 251(L&C),                  
 Version 9-LSO662/O, Bannister, dated 4/24/95, be adopted.                     
                                                                               
 CHAIRMAN KOTT asked if there was an objection.                                
                                                                               
 REPRESENTATIVE KIM ELTON objected for the purpose of a question.              
 He asked if somebody could outline the differences between                    
 Versions M and O.                                                             
                                                                               
 CHAIRMAN KOTT referred to Version M and said he would explain                 
 what has been deleted.  He said there are very few changes,                   
 however, Version M was not adopted.  He noted the committee did               
 adopt some amendments.  Chairman Kott said Section 1 was deleted              
 in its entirety.  Section 2 is now Section 1 of Version O.  He                
 said the committee had adopted an amendment that provided for a               
 petition holder to come up with 10 percent, 1/10 of all the                   
 shares (indisc.) at the meeting.  The new CS has raised that to               
 15 percent.  The rest of Section 2 is standard, with the                      
 exception of corporation.  On line 7, page 3, the 90 days has                 
 been increased after filing  to 80 days.  That was a compromise               
 allowing for additional time.  Chairman Kott referred to (o) on               
 line 17, and said the one year was increased to two years.  He                
 referred to Sections 3, 4, 5 and 6 of Version M, which dealt                  
 mainly with civil and penal application, and said it has been                 
 deleted.  Section 7 of Version M, the definition of "Native                   
 corporation," has been omitted.  He said those are the changes                
 between the two versions.                                                     
                                                                               
 REPRESENTATIVE ELTON said there were some things that he felt                 
 fairly strongly about in Version M.  One of them was the one year             
 versus the two years.  He asked what the rational was for going               
 back to two years.                                                            
                                                                               
 CHAIRMAN KOTT said after he spoke with the prime sponsor of HB                
 251, they decided two years would be more palatable to allow a                
 little more time to ensure the corporation's work was not                     
 interrupted.  They could carry out the business of the                        
 corporation on behalf of the shareholders.  It would provide for              
 a little less disruption.                                                     
                                                                               
 REPRESENTATIVE ELTON asked if the committee has correspondence                
 from the Department of Commerce and Economic Development.  He                 
 noted a constituent of his gave him some correspondence that                  
 reports to be from the department with some departmental                      
 suggestions.                                                                  
                                                                               
 CHAIRMAN KOTT indicated he has a lot of correspondence in his                 
 packet.  He noted the correspondence Representative Elton                     
 referred to doesn't ring a bell.  Chairman Kott said he supposes              
 the department, as they are allowed to testify on the new                     
 version, may offer some recommendations if they see fit.                      
                                                                               
 REPRESENTATIVE ELTON asked if he could copy his information and               
 give it to the committee members.                                             
                                                                               
 CHAIRMAN KOTT said the committee would take a brief at ease at                
 3:27 p.m.  The meeting was called back to order at 3:33.                      
                                                                               
 Number 175                                                                    
                                                                               
 REPRESENTATIVE NORMAN ROKEBERG said he had a concern about the                
 authenticity of the information.                                              
                                                                               
 REPRESENTATIVE ELTON said what he wanted to do was give everyone              
 a copy, and then ask the department about the information.                    
                                                                               
 Number 188                                                                    
                                                                               
 CHAIRMAN KOTT asked if Representative Elton still had an                      
 objection to adopting Version O.                                              
 REPRESENTATIVE ELTON said he would remove his objection.                      
                                                                               
 CHAIRMAN KOTT said if there is no further objection, the                      
 committee would use work draft, Version O, as the CS.                         
                                                                               
 Number 195                                                                    
                                                                               
 REPRESENTATIVE BEVERLY MASEK said it seems to her that the bill               
 is getting more and more complex.  She said the committee is                  
 receiving more and more information.  There was work draft M and              
 now there is work draft O.  She asked if the committee will be                
 looking at the letter they were given.                                        
                                                                               
 CHAIRMAN KOTT said that is correct.  He said the department would             
 explain their noted exceptions based on the letter as compared to             
 Version O.                                                                    
                                                                               
 REPRESENTATIVE MASEK said it seems to be getting more and more                
 controversial.  She made a motion that the bill be held, tabled,              
 until some work can be done on it during the interim.  She said               
 it is getting too complex.                                                    
                                                                               
 REPRESENTATIVE ROKEBERG objected to Representative Masek's                    
 motion.                                                                       
                                                                               
 CHAIRMAN KOTT called a recess at 3:38 p.m.                                    
                                                                               
 Representative Porter arrived at 3:40 p.m.                                    
                                                                               
 CHAIRMAN KOTT called the meeting back to order at 4:00 p.m.  He               
 said there is a motion pending.                                               
                                                                               
 REPRESENTATIVE MASEK said she would like to restate her motion to             
 table the bill.                                                               
                                                                               
 CHAIRMAN KOTT said the motion is to table the bill, HB 251.  He               
 asked if there was an objection.  REPRESENTATIVE ROKEBERG                     
 objected.                                                                     
                                                                               
 A roll call vote was taken.  Representatives Kott and Rokeberg                
 voted against tabling HB 251.  Representatives Masek, Elton and               
 Sanders voted in favor of tabling the bill.  So HB 251 was                    
 tabled.                                                                       

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