Legislature(1993 - 1994)

04/18/1994 03:24 PM RLS

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
 CHAIRMAN HALFORD brought CSHB 454(FIN) (APPROP: COST OF OIL/GAS               
 LITIGATION) before the committee as the final order of business.              
 He directed attention to a proposed Rules SCS and explained the               
 dollars are the same, but the Rules SCS proposes taking the monies            
 from the budget reserve as opposed from the general fund.                     
                                                                               
 JIM BALDWIN, Assistant Attorney General, Department of Law, noted             
 he had provided the committee with a memo explaining the                      
 methodology in computing what the budget reserve would have paid              
 from the effective date of the amendment for recoveries that have             
 been deposited in the Constitutional Budget Reserve Fund.  By the             
 department's methodology, they determined that the budget reserve             
 fund would have paid a total of $68,738,958 as the share of that              
 fund for the cost of recovery.  These figures were presented to the           
 House Finance Committee and their action was to substitute general            
 funds with budget reserve funds for FY 95, and, substantially, all            
 of the recoveries that they make for this BRU (oil and gas special            
 litigation) is destined either for the permanent fund or the budget           
 reserve fund.                                                                 
                                                                               
 SENATOR ZHAROFF asked if this was a FY 94 supplemental budget                 
 request, and MR. BALDWIN acknowledged that it was, and the reason             
 it was in a separate bill is that the department hoped it would be            
 fast tracked from the normal supplemental process.                            
                                                                               
 CHAIRMAN HALFORD asked for the will of the committee.                         
                                                                               
 SENATOR RIEGER moved that SCS CSHB 454(RLS) be adopted.  Hearing no           
 objection, the motion carried.                                                
                                                                               
 SENATOR RIEGER moved that SCS CSHB 454(RLS) be passed out of                  
 committee with individual recommendations.  Hearing no objection,             
 it was so ordered.                                                            
                                                                               
                                                                               
 SENATOR RIEGER moved and asked unanimous consent that CSHB 454(FIN)           
 be approved for calendaring at the Chair's discretion.  Hearing no            
 objection, it was so ordered.                                                 

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