Legislature(1997 - 1998)
1998-04-03 House Journal
Full Journal pdf1998-04-03 House Journal Page 2867 HB 393 The Resources Committee has considered: HOUSE BILL NO. 393 "An Act relating to contracts with the state establishing payments in lieu of other taxes by a qualified sponsor or qualified sponsor group for projects to develop stranded gas resources in the state; providing for the inclusion in such contracts of terms making certain adjustments regarding royalty value and the timing and notice of the state's right to take royalty in kind or in value from such projects; relating to the effect of such contracts on municipal taxation; and providing for an effective date." and recommends it be replaced with: CS FOR HOUSE BILL NO. 393(RES) "An Act relating to contracts with the state establishing payments in lieu of other taxes by a qualified sponsor or qualified sponsor group for projects to develop stranded gas resources in the state; providing for the inclusion in the contracts of terms making certain adjustments regarding royalty value and the timing and notice of the state's right to take royalty in kind or in value from projects to develop stranded gas resources in the state; relating to the effect of the contracts on municipal taxation; and providing for an effective date." The report was signed by Representatives Ogan and Hudson, Co-chairs, with the following individual recommendations: Do pass (3): Ogan, Barnes, Dyson No recommendation (6): Hudson, Nicholia, Joule, Masek, Williams, Green 1998-04-03 House Journal Page 2868 HB 393 The following fiscal notes apply to CSHB 393(RES): Fiscal note, Dept. of Natural Resources, 2/11/98 Fiscal note, Dept. of Revenue, 2/11/98 HB 393 was referred to the Finance Committee. **The presence of Representative Kott was noted.