04/02/2003 01:40 PM House FIN

HOUSE BILL NO. 57                                                                                                             
                                                                                                                                
     An Act  amending the manner  of determining  the royalty                                                                   
     received by  the state on  gas production as  it relates                                                                   
    to the manufacture of certain value-added products.                                                                         
                                                                                                                                
Representative  Foster MOVED  to  ADOPT committee  substitute                                                                   
#23-LS0303\W, Chenoweth,  4/2/03 as  the version of  the bill                                                                   
before the Committee.                                                                                                           
                                                                                                                                
There being NO OBJECTION, it was adopted.                                                                                       
                                                                                                                                
RANDY  RUARO,  FINANCE STAFF,  CO-CHAIR  REPRESENTATIVE  BILL                                                                   
WILLIAMS,  explained that there  was one  change made  to the                                                                   
"W" version  of the legislation on  Page 3, Lines 1-11.   The                                                                   
change  would delete  "and" on  the four  factors and  insert                                                                   
"or".   The Commissioner  can now refuse  to grant  a royalty                                                                   
reduction if he finds any one of the four factors listed.                                                                       
                                                                                                                                
Representative  Foster MOVED  report CS  HB 57  (FIN) out  of                                                                   
Committee  with  individual  recommendations   and  with  the                                                                   
accompanying fiscal note.                                                                                                       
                                                                                                                                
Co-Chair Harris  asked if the  fiscal note indicating  "draft                                                                   
note"  would be the  note to  accompany the  bill.   Co-Chair                                                                   
Williams clarified that it would.                                                                                               
                                                                                                                                
There being NO OBJECTION, it was so ordered.                                                                                    
                                                                                                                                
CS  HB  57  (FIN)  was reported  out  of  Committee  with  an                                                                   
"individual  recommendation" and  with a  new fiscal  note by                                                                   
the Department of Natural Resources.