1998-05-01                     Senate Journal                      Page 3650
HB 393                                                                       
The Labor and Commerce Committee considered 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 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. Signing do pass: Senator Leman,               
Chair, Senator Mackie. Signing no recommendation: Senator                      
Hoffman. Signing amend: Senator Kelly.                                         
                                                                               
Previous House fiscal notes.                                                   
                                                                               
The bill was referred to the Resources Committee.