05/01/1994 01:10 PM Senate FIN

  CSHB 498(FIN):      An   Act   providing   for   exploration                 
                      incentive    credits   for    activities                 
                      involving    locatable   and    leasable                 
                                                                               
                                                                               
                      minerals  and  coal deposits  on certain                 
                      land in the state; and providing  for an                 
                      effective date.                                          
                                                                               
                      Larry Meyers, Director, Income  & Excise                 
                      Audit Division,  Department of  Revenue;                 
                      Gerald L. Gallagher,  Director, Division                 
                      of   Mining,   Department   of   Natural                 
                      Resources;  and  Larry LaBolle,  aide to                 
                      Representative Larry Foster,  sponsor of                 
                      HB 498, spoke  to HB 498.   Amendment 4,                 
                      5, and 6 were ADOPTED.  SCSCSHB 498(FIN)                 
                      was REPORTED out of committee with a "do                 
                      pass," and  zero  fiscal  note  for  the                 
                      Department of Revenue.                                   
                                                                               
  CS FOR HOUSE BILL NO. 498(FIN):                                              
                                                                               
       An Act providing for  exploration incentive credits for                 
       activities  involving  locatable and  leasable minerals                 
       and  coal deposits  on certain land  in the  state; and                 
       providing for an effective date.                                        
                                                                               
  Co-chair  Pearce  announced  that  HB  498  was  before  the                 
  committee.  She also reminded  the committee that amendments                 
  1, 2, and 3 had been adopted, and amendments 4, 5, and 6 had                 
                                                                               
                                                                               
  been held in a previous meeting.                                             
                                                                               
  Co-chair  Pearce  invited  Gerald  L.  Gallagher,  Director,                 
  Division of  Mining, Department of  Natural Resources; Larry                 
  E. Meyers, Director, Income and  Excise Audit, Department of                 
  Revenue; and  Larry LaBolle,  aide  to Representative  Larry                 
  Foster, sponsor of HB 498, to join the members at the table.                 
                                                                               
  Senator  Kelly MOVED  amendment 4.    In answer  to Co-chair                 
  Frank, Mr. Gallagher  said the department  would not have  a                 
  problem  with  amendment  4.    No  objection  being  heard,                 
  amendment 4 was ADOPTED.                                                     
                                                                               
  Senator Kelly  MOVED amendment 5.  No objection being heard,                 
  amendment 5 was  ADOPTED.  Senator Kelly  noted that Senator                 
  Kerttula's amendment 1 would need to fit with amendment 5.                   
                                                                               
  Co-chair Frank MOVED amendment  6.  Mr. Meyers spoke  to the                 
  amendment in regard to the fiscal note.  He agreed  that the                 
  department would  provide a new  fiscal note.   No objection                 
  being heard, amendment 6 was ADOPTED.                                        
                                                                               
  Co-chair Frank MOVED  for passage  of SCSCSHB 498(FIN)  from                 
  committee  with individual  recommendations.   No  objection                 
  being heard, SCSCSHB 498(FIN) was  REPORTED out of committee                 
  with a "do pass," and a zero fiscal note from the Department                 
  of  Revenue.  Co-chairs Pearce and Frank, Senators Kelly and                 
  Sharp  signed  a "do  pass."   Senator  Rieger signed  a "no                 
  recommendation."                                                             
                                                                               
  ADJOURNMENT                                                                  
                                                                               
  The meeting was recessed at approximately 3:15 p.m.