1998-04-18                     Senate Journal                      Page 3358
HB 393                                                                       
CS FOR HOUSE BILL NO. 393(RES) BY THE HOUSE                                    
RESOURCES COMMITTEE, entitled:                                                 
                                                                               
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 states 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.                                           
                                                                               
was read the first time and referred to the Labor and Commerce,                
Resources, and Finance Committees.