CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. CS for CS for SB 1998
Amendment No.
CHAMBER ACTION
Senate House
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11 Senator Rossin moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 13, line 26, through page 22, line 10, delete
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17 and insert:
18 Section 4. (1) The Task Force on
19 Tobacco-Settlement-Revenue Protection is created to determine
20 the need for and evaluate methods for protecting the state's
21 tobacco settlement revenue from significant loss. The task
22 force shall, at a minimum, study and make a determination of:
23 (a) The degree of risk posed to the amount of
24 tobacco-settlement revenue as a consequence of a decline in
25 domestic tobacco sales.
26 (b) The degree of risk posed to the tobacco-settlement
27 revenue by potential dissolution or restructure of the tobacco
28 companies that were defendants in the state's suit.
29 (c) The necessity and advisability of taking action to
30 protect the asset value of the tobacco settlement.
31 (d) The options available for protecting the asset
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SENATE AMENDMENT
Bill No. CS for CS for SB 1998
Amendment No.
1 value of tobacco-settlement revenues, including
2 securitization, insurance, self-insurance, or a combination of
3 these options.
4 (2) The task force shall submit a report to the
5 Legislature by February 1, 2001. The report shall include
6 findings and results of the task force's studies and
7 determinations and any specific recommendations including
8 recommendations for legislative revisions to address the
9 issues and meet the needs identified under paragraphs (a)-(d)
10 of subsection (1). The task force shall continue to serve for
11 the purpose of providing assistance to the Legislature as
12 needed to review legislative efforts to implement any of the
13 task force's recommendations.
14 (3) The task force is to be composed of:
15 (a) The Governor, who shall serve as chair of the task
16 force;
17 (b) The Comptroller;
18 (c) The Insurance Commissioner;
19 (d) Three members of the Senate, who shall be
20 appointed by the President of the Senate; and
21 (e) Three members of the House of Representatives, who
22 shall be appointed by the Speaker of the House of
23 Representatives.
24 (4) The task force may conduct research, hold public
25 hearings, receive testimony, employ consultants, and undertake
26 other activities determined by its members to be necessary.
27 (5) Each task force member may designate a designee as
28 an ex-officio nonvoting member.
29 (6) All official actions by the task force shall be by
30 a majority vote of the membership designated in subsection
31 (3).
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SENATE AMENDMENT
Bill No. CS for CS for SB 1998
Amendment No.
1 (7) Staff support for the task force shall be provided
2 by the State Board of Administration.
3 (8) The term of the task force shall expire on July 1,
4 2001.
5 Section 5. For the 2000-2001 fiscal year, the
6 nonrecurring sum of $100,000 from tobacco-settlement revenues
7 is appropriated to the State Board of Administration to
8 support operation of the task force.
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10 (Redesignate subsequent sections.)
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14 And the title is amended as follows:
15 On page 1, line 28, after the first semicolon
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17 insert:
18 creating the Task Force on
19 Tobacco-Settlement-Revenue Protection;
20 providing for membership and duties; providing
21 for staff; providing for expiration of the task
22 force; providing an appropriation;
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