AMENDMENT No. 1 to 02 LSO 0199.W4

This amendment would remove one of the limitations on the amount of GARVEE bonds.  Since grant agreements are not always in place at the time of bonding, the existing language was too restrictive according to the state consultant. 

Page 7–line 19     Delete "the lesser of:".

Page 7-lines 21 and 22  Delete.

Page 8-line 1Delete "(ii)".

AMENDMENT No. 2. to 02 LSO 0199.W4

This amendment provides for "stair stepping" of the shift of FMRs from the highway fund to the school capcon account in one quarter increments annually.  It implements the "concept" amendment sent previously.

Page 18-line 8     Delete "ten percent".

Page 18-line 9     Delete "(10%)" insert "the following           percentages".

Page 18-after line 12   Insert:

"(A) Twenty two percent (22%) for the fiscal year beginning July 1, 2002;

(B) Eighteen percent (18%) for the fiscal year beginning July 1, 2003;

(C) Fourteen percent (14%) for the fiscal year beginning July 1, 2004;

(D) Ten percent (10%) for the fiscal year beginning July 1, 2005 and each fiscal year thereafter.".

Page 19-line 14    Delete "Sixteen and one-quarter percent                   (16.25%)" and insert "The following                      percentages".

Page 19-line 17         After "108" insert:

"(A) Four and one-quarter percent (4.25%) for the fiscal year beginning July 1, 2002;

(B) Eight and one-quarter percent (8.25%) for the fiscal year beginning July 1, 2003;

(C) Twelve and one-quarter percent (12.25%) for the fiscal year beginning July 1, 2004;

(D) Sixteen and one-quarter percent (16.25%) for the fiscal year beginning July 1, 2005 and each fiscal year thereafter.".

AMENDMENT No. 3 to 02 LSO 0199.W4

This amendment provides for coal lease bonus funds currently directed to the school capcon account to flow to a state capital construction account.

Page 20-line 5     Strike "school" insert "state".

Page 20-line 6     Strike "21-15-".

Page 20-line 7     Strike "111(a)(i)" insert "9-5-109".

Page 20-after line 10   Insert:

"(iv)  For the fiscal year commencing July 1, 1994, and for each fiscal year thereafter:

(A)  Ten percent (10%) but not to exceed one million six hundred thousand dollars ($1,600,000.00) per year, to an earmarked revenue fund account which may be expended by the community college commission in accordance with and in addition to appropriations available under W.S. 21-18-205(c). Any amount in excess of one million six hundred thousand dollars ($1,600,000.00) together with any unexpended revenues within the account at the end of any biennial budget period shall be credited to the school state capital construction account established under W.S. 21-15-111(a)(i) 9-5-109;

(B)  Forty percent (40%) to the school state capital construction account established under W.S. 21-15-111(a)(i) 9-5-109.

Page 21-line 11    Insert:

"9-5-109.  State capital construction fund created; uses.

There is created within the earmarked revenue fund a state capital construction account.  The state treasurer shall deposit into the account revenues as provided by W.S. 9-4-601(b)(i) and (iv).  Interest earned on funds within the account shall be credited to the account.  The state loan and investment board shall recommend expenditures from the account for purposes of W.S. 9-5-107 and 9-5-108, and may expend funds from the account as appropriated by the legislature."

Page 24-line 18    Strike "(b)(i) and (iv)".