CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. SB 2168
Amendment No.
CHAMBER ACTION
Senate House
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11 Senator Burt moved the following amendment:
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13 Senate Amendment (with title amendment)
14 Delete everything after the enacting clause
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16 and insert:
17 Section 1. (1) The Task Force on
18 Tobacco-Settlement-Revenue Protection is created to determine
19 the need for and evaluate methods for protecting the state's
20 tobacco settlement revenue from significant loss. The task
21 force shall, at a minimum, study and make a determination of:
22 (a) The degree of risk posed to the amount of
23 tobacco-settlement revenue as a consequence of a decline in
24 domestic tobacco sales.
25 (b) The degree of risk posed to the tobacco-settlement
26 revenue by potential dissolution or restructure of the tobacco
27 companies that were defendants in the state's suit.
28 (c) The necessity and advisability of taking action to
29 protect the asset value of the tobacco settlement.
30 (d) The options available for protecting the asset
31 value of tobacco-settlement revenues, including
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SENATE AMENDMENT
Bill No. SB 2168
Amendment No.
1 securitization, insurance, self-insurance, or a combination of
2 these options.
3 (2) The task force shall submit a report to the
4 Legislature by February 1, 2001. The report shall include
5 findings and results of the task force's studies and
6 determinations and any specific recommendations including
7 recommendations for legislative revisions to address the
8 issues and meet the needs identified under paragraphs (a)-(d)
9 of subsection (1). The task force shall continue to serve for
10 the purpose of providing assistance to the Legislature as
11 needed to review legislative efforts to implement any of the
12 task force's recommendations.
13 (3) The task force is to be composed of:
14 (a) The Governor, who shall serve as chair of the task
15 force;
16 (b) The Comptroller;
17 (c) The Insurance Commissioner;
18 (d) Three members of the Senate, who shall be
19 appointed by the President of the Senate; and
20 (e) Three members of the House of Representatives, who
21 shall be appointed by the Speaker of the House of
22 Representatives.
23 (4) The task force may conduct research, hold public
24 hearings, receive testimony, employ consultants, and undertake
25 other activities determined by its members to be necessary.
26 (5) Each task force member may designate a designee as
27 an ex-officio nonvoting member.
28 (6) All official actions by the task force shall be by
29 a majority vote of the membership designated in subsection
30 (3).
31 (7) Staff support for the task force shall be provided
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SENATE AMENDMENT
Bill No. SB 2168
Amendment No.
1 by the State Board of Administration.
2 (8) The term of the task force shall expire on July 1,
3 2001.
4 Section 2. For the 2000-2001 fiscal year, the
5 nonrecurring sum of $100,000 from tobacco-settlement revenues
6 is appropriated to the State Board of Administration to
7 support operation of the task force.
8 Section 3. This act shall take effect upon becoming a
9 law.
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13 And the title is amended as follows:
14 Delete everything before the enacting clause
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16 and insert:
17 A bill to be entitled
18 An act relating to 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; providing an
23 effective date.
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