May 8, 1999

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 5

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

1. On page 2, line 9, after "pledged" insert ", on a basis subordinate to any severance tax bonds then or thereafter outstanding,".

2. On page 9, line 6, strike "five" and insert in lieu thereof "two".

3. On page 9, line 16, after "bond" insert "or supplemental severance tax bond".

4. On page 12, line 15, after the period strike the remainder of the line and strike all of line 16.

5. On page 13, line 5, strike "be void" and insert in lieu thereof "expire".

Respectfully submitted,

Jerry W. Sandel, Chairman

Adopted Not Adopted

(Chief Clerk) (Chief Clerk)

The roll call vote was 13 For 0 Against

Yes: 13

Excused: Gonzales

Absent: Tripp

.129682.1

R:\99SbillsWP\h0005tr1