05/02/2000 10:00 AM Senate FIN

CS FOR HOUSE BILL NO. 18(FIN)                                                                                                   
"An Act making a special appropriation in an amount                                                                             
not to exceed $250,000,000 from the earnings reserve                                                                            
account to the principal of the permanent fund; and                                                                             
providing for an effective date."                                                                                               
                                                                                                                                
                                                                                                                                
This was the first hearing for this bill in the Senate                                                                          
Finance Committee.                                                                                                              
                                                                                                                                
Senator Adams asked if there was an understanding that $250                                                                     
million was the amount that would be put forward before the                                                                     
entire Senate.                                                                                                                  
                                                                                                                                
Co-Chair Torgerson was unsure.                                                                                                  
                                                                                                                                
Co-Chair Parnell noted that the title was restrictive and                                                                       
therefore unlikely to be changed.                                                                                               
                                                                                                                                
Co-Chair Parnell moved to report from Committee, CS HB 18                                                                       
(FIN) with individual recommendations. There were no fiscal                                                                     
notes accompanying this appropriation legislation. Without                                                                      
objection, the bill was REPORTED FROM COMMITTEE.