05/18/2002 10:13 AM Senate FIN

                                                                                                                                
     SENATE BILL NO. 2005                                                                                                       
     "An Act relating to municipal bond reimbursement for school                                                                
     construction; and providing for an effective date."                                                                        
                                                                                                                                
                                                                                                                                
This  was the first  hearing  for this  bill in  the Senate  Finance                                                            
Committee.                                                                                                                      
                                                                                                                                
Co-Chair  Kelly  explained  this legislation   is identical  to  the                                                            
original  version of  HB 451  and  contains authorization  to  issue                                                            
bonds. He noted it does not list specific projects.                                                                             
                                                                                                                                
Senator Austerman asked  if the intent is to report SB 2005 from the                                                            
Senate  Finance  Committee   to  be  amended  in  the  Senate  Rules                                                            
Committee.                                                                                                                      
                                                                                                                                
Co-Chair  Kelly responded  his intention is  that no further  action                                                            
would be taken on this  bill once it is referred to the Senate Rules                                                            
Committee and  that the bond authority  would be granted  through SB
.                                                                                                                           
                                                                                                                                
Senator Austerman  asked the reason  for reporting SB 2005  from the                                                            
Senate Finance Committee.                                                                                                       
                                                                                                                                
Co-Chair  Kelly answered that  in the event  SB 2002 does not  pass,                                                            
there  would be  opportunity  to pass  the more  limited  provisions                                                            
contained in  SB 2005. He stated agreement  exists on passage  of at                                                            
least  minimal  bonding  authority  as  contained  in  the  original                                                            
version of HB 451, sponsored by Representative James.                                                                           
                                                                                                                                
Senator Wilken  clarified SB 2005  would be moved from Committee  to                                                            
allow for flexibility, which he supports.                                                                                       
                                                                                                                                
Senator Green offered a  motion to move from Committee, SB 2005 with                                                            
individual recommendations.                                                                                                     
                                                                                                                                
There was no objection and SB 2005 MOVED from Committee.                                                                        
                                                                                                                                
AT EASE 10:20 AM / 10:22 AM