04/19/2000 02:00 PM House FIN

HOUSE BILL NO. 287                                                                                                              
                                                                                                                                
"An Act making and amending capital appropriations and                                                                          
reappropriations and capitalizing funds; and providing                                                                          
for an effective date."                                                                                                         
                                                                                                                                
Co-Chair Mulder pointed out that HB 287 only takes effect if                                                                    
HB 281 or something similar is passed.                                                                                          
                                                                                                                                
Co-Chair Therriault questioned if there is language that                                                                        
restricts authorization of projects if HB 281 passes but the                                                                    
bonds are not sold.                                                                                                             
                                                                                                                                
Mr. Bitney explained that the authorizations are in the same                                                                    
manner as authorization for federal appropriations. They                                                                        
would be based on receipt of the proceeds of the sale.                                                                          
                                                                                                                                
Co-Chair Therriault questioned if the language would require                                                                    
that bonds be issued by AHFC.                                                                                                   
                                                                                                                                
Mr. Dubler suggested the language be clarified by adding                                                                        
"bonds issued under HB 281".                                                                                                    
                                                                                                                                
Representative J. Davies pointed out that section 3                                                                             
identifies bonds. Mr. Bitney noted that the legislation                                                                         
refers to bonds authorized under the act in section 3.                                                                          
                                                                                                                                
Representative J. Davies noted that clarification would be                                                                      
needed on page 1, line 7 and page 3, line 13 and 31.                                                                            
                                                                                                                                
Co-Chair Mulder questioned if the language should be added                                                                      
to the effect that the "proceeds of the bonds issued by AFHC                                                                    
are those bonds authorized under section 3", so that AHFC                                                                       
would not be required to issue bonds if the tobacco bond                                                                        
issuance failed.                                                                                                                
                                                                                                                                
GEORGE UTERMOHLE, LEGAL COUNSEL, LEGISLATIVE AFFAIRS AGENCY                                                                     
pointed out that section 3 does not authorize the issuance                                                                      
of any bonds.                                                                                                                   
                                                                                                                                
Co-Chair Therriault suggested that the "bonds referenced in                                                                     
section 3" be added. Mr. Utermohle agreed with Co-Chair                                                                         
Therriault's suggestion.                                                                                                        
                                                                                                                                
Mr. Utemohle explained that section 3 provides that the bill                                                                    
does not take effect if the contingency is not met. Section                                                                     
4 provides that if the contingency is met that the                                                                              
legislation takes effects July 1, 2000. If the contingency                                                                      
were met after July 1, 2000 then the effective date would be                                                                    
immediate.                                                                                                                      
                                                                                                                                
Co-Chair Therriault reiterated his concerns. He suggested                                                                       
the addition of "proceeds of the bonds referenced in section                                                                    
3 of this act."                                                                                                                 
                                                                                                                                
Mr. Utemohle agreed that the suggested language would tie                                                                       
the appropriations to the bonds issued by AHFC and described                                                                    
in section 3.                                                                                                                   
                                                                                                                                
Co-Chair Mulder provided members with a proposed committee                                                                      
substitute 1-GH2043|G, 4/19/00 (copy on file).                                                                                  
                                                                                                                                
Co-Chair Therriault MOVED to ADOPT 1-GH2043|G, 4/19/00.                                                                         
There being NO OBJECTION, it was so ordered.                                                                                    
                                                                                                                                
Co-Chair Therriault MOVED to ADOPT Amendment 1 add                                                                              
"referenced by section 3 of this act" after "proceeds of the                                                                    
bonds." There being NO OBJECTION, it was so ordered.                                                                            
                                                                                                                                
HB 287 was heard and HELD in Committee for further                                                                              
consideration.                                                                                                                  
HOUSE BILL NO. 287                                                                                                              
                                                                                                                                
"An Act making and amending capital appropriations and                                                                          
reappropriations and capitalizing funds; and providing                                                                          
for an effective date."                                                                                                         
                                                                                                                                
Representative Foster MOVED to report CSHB 287 (FIN) out of                                                                     
Committee. There being NO OBJECTION, it was so ordered.                                                                         
                                                                                                                                
CSHB 287 (FIN) was REPORTED out of Committee with a "do                                                                         
pass" recommendation.