February 7, 2000

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 279

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 2, lines 13 and 14, strike the underscored language and insert in lieu thereof "with a term that extends beyond the fiscal year in which the bonds are issued".

2. On page 2, strike lines 20 through 25 and on page 3, strike lines 1 and 2 and insert in lieu thereof:

"D. The state board of finance may issue supplemental severance tax bonds with a term that does not extend beyond the fiscal year in which they are issued if the debt service on such supplemental severance tax bonds when added to the debt service previously paid or scheduled to be paid during that fiscal year on severance tax bonds and supplemental severance tax bonds does not exceed seventy-five percent of the deposits into the severance tax bonding fund during the preceding fiscal year.".,

and thence referred to the APPROPRIATIONS AND FINANCE COMMITTEE.

Respectfully submitted,

Jerry W. Sandel, Chairman

Adopted Not Adopted

(Chief Clerk) (Chief Clerk)

The roll call vote was 10 For 0 Against

Yes: 10

Excused: Burpo, Gubbels, Hawkins, Sandoval, Whitaker

Absent: None

.132247.1

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