|
H.B.
No. 0103 |
Capital construction financing. |
Sponsored By: Select Committee on
Capital Financing and Investments
AN ACT relating to state capital construction;
creating a capital financing commission; specifying composition, powers and
duties of the commission; eliminating state building commission; assigning
functions and duties of the state building commission to other state entities;
combining certain state bonding authority provisions; repealing, increasing and
amending certain existing state bonding authority provisions; amending certain
mineral royalty revenue distributions; authorizing the pledge of certain
revenues for bonds for school and other capital construction projects;
specifying use of bond proceeds; making conforming amendments; providing an
appropriation; authorizing positions; and providing for effective dates.
2/4/02 Bill
Number Assigned
2/11/02 H
Received for Introduction
2/11/02 H
Introduced and Referred to H03
2/21/02 H03
Recommended Amend and Do Pass
ROLL CALL
Ayes: Representative(s) Anderson, R., Boswell, Cohee, Nagel, Nicholas
and Osborn
Nays: Representative(s) Deegan, Huckfeldt and Wostenberg
Ayes 6
Nays 3 Excused 0 Absent 0 Conflicts 0
2/21/02 H
Placed on General File
2/25/02 H
Amendments Adopted
HB0103HS001/A
Page 1-line 12 Delete "providing an
appropriation;".
Page 1-line 13 Delete "authorizing
positions;".
Page
15-line 4 After "(iii)."
insert "To the extent that sufficient revenues are not available to fully
fund the bond repayment account as provided by this subsection, subject to W.S.
9-4-601(k), prior to any distribution to the public school foundation program
account under W.S. 9‑4‑601(a)(ii), sufficient additional revenues
for the purpose of this subsection shall be deducted therefrom and credited to
the bond repayment account. The revenues deducted shall be used as provided by
this section. The balance of the revenues deducted shall be credited to the
public school foundation program account.".
Page 21-line 24 After "9-4-601(a)(intro),"
insert "(ii),".
Page 27-after line 5 Insert:
"(ii) Forty-four and
eight-tenths percent (44.8%) to the public school foundation program account
subject to allocations under W.S. 9-4-605 and
9-5-405(a);
Page 28-line 3 Delete "(vi),".
Page 46-line 12 Strike "November" insert
"October".
Page 56-line 9 Delete "five".
Page
56-line 10 Delete the line through
"($5,000.00)" insert "one hundred thousand dollars ($100,000.00)".
Page 60-lines 1 through 15 Delete entirely.
Page 60-line 17 Delete "6" insert
"5". NAGEL, CHAIRMAN
2/25/02 H
Passed CoW
2/26/02 H
Laid Back Pursuant to HR 9-3
2/27/02 Amendment
Adopted
HB0103H2001/A
Page 22-line 10 Delete "21-15-111(a)(i)".
Page 29-line 15 After "the"
delete balance of the line.
Page
29-line 16 Delete entirely and insert
"bond repayment account established under W.S.
21-15-108(a), as necessary to make payments on bonds issued pursuant to W.S.
21-15-108;".
Page
51-line 5 After "9-4-601(a)(vii)" delete "," insert "and";
delete "and (m)(ii)".
Page 52-line 15 Delete "," insert "and".
Page 52-line 16 Delete "and (m)(ii)".
Page 52-line 24 Delete.
Page 53-lines 1 through 13 Delete.
PARADY
2/27/02 H
Passed 2nd Reading
2/28/02 H
Passed 3rd Reading
ROLL CALL
Ayes: Representative(s) Anderson, R., Boswell, Burns, Childers,
Edwards, Esquibel, Hageman, Iekel, Illoway, Johnson, L., Johnson, W., Landon,
Law, Lockhart, Luthi, McGraw, Meuli, Meyer, Miller, D., Nagel, Nelson, Nicholas,
Osborn, Parady, Petersen, Ross, Samuelson, Shivler, Simpson, Slater, Stafford,
Tempest, Thompson, Tipton, Warren and Wasserburger.
Nays: Representative(s) Baker, Cohee, Deegan, Diercks, Eyre, Gay,
Hessenthaler, Hines, Jones, McMurtrey, McOmie, Morgan, Paseneaux, Philp, Reese,
Robinson, Rose, Sadler, Simons, Tomassi, Watt, Willford and Wostenberg.
Excused: Representative(s) Huckfeldt
Ayes 36
Nays 23 Excused 1 Absent 0 Conflicts 0
3/1/02 S
Received for Introduction
3/1/02 S
Introduced and Referred to S03
3/5/02 S03
Recommended Do Pass
ROLL CALL
Ayes: Senator(s) Devin, Erb, Job, Mockler and Peck
Ayes 5
Nays 0 Excused 0 Absent 0 Conflicts 0
3/5/02 S
Rereferred to S02
3/6/02 S02
Recommended Do Pass
ROLL CALL
Ayes: Senator(s) Anderson, J., Cathcart, Harris and Larson
Nays: Senator(s) Hinchey
Ayes 4
Nays 1 Excused 0 Absent 0 Conflicts 0
3/6/02 S
Placed on General File
3/7/02 S
Passed CoW
3/8/02 S
Amendments Adopted
HB0103S2001/AE
(TO ENGROSSED COPY)
Page
1-line 12 After ";" insert
"modifying school capital construction financing provisions;".
Page
56-line 6 After "." insert "The
committee shall review and make recommendations to the legislature regarding
commission recommendations and proposed legislation.".
Page 59-After line 8 insert
and renumber:
"Section 4. W.S. 9‑4‑1001(a)
and (c) is amended to read:
9‑4‑1001. Guarantee
program for school district bonds.
(a) The state loan and
investment board capital financing
commission shall administer a school district bond guarantee program
in accordance with this section and may promulgate rules to implement it. This
program applies to bonds issued by school districts under W.S. 21‑13‑701
through 21‑13‑721 on or before November
1, 2001, only. The program is intended to benefit school districts
by guaranteeing payment of bonded indebtedness of creditworthy districts by
reducing the interest rate at which the bonds may be issued.
(c) The board commission may determine to guarantee bonds under
this section and may impose terms, conditions and limits on that guarantee as
it finds, in its discretion, are necessary to protect state funds and ensure
the viability of the program. In addition, the
commission may guarantee the refunding of bonds issued on or before November 1,
2001, provided the refunding is not combined with any bonds issued after
November 1, 2001. A decision by the board
commission not to guarantee
bonds under this section is not subject to judicial review under the Wyoming
Administrative Procedure Act (W.S. 16‑3‑101 through 16‑3‑115).
Section 5.(a) W.S. 9‑5‑401(a)(iii) and
(vi), 9‑5‑403(a)(v) and 21‑15‑122 are created to read:
9‑5‑401. Definitions.
(a) As
used in this act:
(iii) "Project"
means the repair, renovation, construction or lease of a state building or
facility identified by the commission for funding pursuant to W.S. 9‑5‑107
through 9‑5‑109 and 21‑15‑122. The term "project" includes real
and personal, tangible or intangible, property in connection therewith, or any
interest therein or combination thereof, or any portion of a project;
(vi) "School
project" means any capital construction project for which state funding is
provided pursuant to W.S. 21‑15‑122;
9‑5‑403. Powers;
duties; staff.
(a) The
commission shall:
(v) Adopt
rules and regulations to implement the provisions of this act, W.S. 9‑5‑107
through 9‑5‑109 and its functions under W.S. 21‑15‑108
and 21‑15‑122;
21‑15‑122. Capital financing
commission; project financing.
(a) Upon receipt of the recommended
budget for projects and school capital construction financing pursuant to W.S.
21‑15‑119, the capital financing commission established under W.S.
9‑5‑402 shall establish financing alternatives for funding the
recommended budget, which uses any combination of the following financing alternatives:
(i) Direct payment from the school
capital construction account;
(ii) Proceeds from state revenue bonds
issued under W.S. 21‑15‑108;
(iii) Capital leasing under W.S. 21‑15‑112. Payments for capital leasing shall be made
from the school capital construction account subject to W.S. 21‑15‑112. For the purpose of this section, capital
leasing includes payments sufficient for the exercise of a purchase option
under the lease.
(b) Notwithstanding W.S. 9‑2‑1012,
the state capital financing commission shall annually, not later than October
1, after receiving the recommended budget from the school facilities commission
under W.S. 21‑15‑119, prepare and submit recommended financing for
school capital construction to the governor, through the budget division of the
department of administration and information.
(c) The school facilities commission
shall, subject to appropriation by the legislature, make expenditures to fund
school capital construction and capital lease payments for projects as
authorized by the legislature. As
provided under W.S. 21‑15‑108, and in accordance with legislative
authorization, the capital financing commission may disburse the proceeds from
state revenue bonds to the school facilities commission for funding projects
specified in the budget recommendation submitted under W.S. 21‑15‑119,
as provided in subsection (d) of this section.
(d) The school facilities commission
shall disburse funding under this section subject to terms and conditions
prescribed by the commission so that payments for construction are made in a
timely manner consistent with the obligation of the district to make payments.
The commission may make payments to or on behalf of a school district with
respect to the district's lease of school facilities under W.S. 21‑15‑119.
Section 5.(b) W.S. 9‑2‑1013(d)(i), 21‑15‑108(b)
and 21‑15‑112(a)(intro) are amended to read:
9‑2‑1013. State
budget; distribution of copies to legislators; copies and reports of
authorizations.
(d) In addition to the items contained in
subsection (a) of this section and notwithstanding any other recommendations
made by the governor, the state budget shall also include the governor's
recommendations for appropriations for the ensuing two (2) years, or if a
supplemental budget request, the remainder of the budget period, subject to the
following:
(i) The state budget shall include the
governor's recommendations for a total appropriation from the school foundation
program account and based upon recommendations of
the capital financing commission under W.S. 21‑15‑122, a
total appropriation for school capital construction purposes for both fiscal
years. The state budget shall include the governor's
recommendations for appropriations for state capital construction and
additional bonding authority based upon recommendations of the capital
financing commission under W.S. 9‑5‑109 and 21‑15‑122
for both fiscal years;
21‑15‑108. Revenue
bonds for grants and loans; refunding revenue bonds.
(b) The state loan and
investment board capital financing commission
may borrow money in a principal amount not to exceed one hundred million dollars ($100,000,000.00) five hundred thirty‑two million dollars
($532,000,000.00) by the issuance from time to time of one (1) or
more series of revenue bonds. The board capital financing commission may encumber revenues
under subsection (a) of this section for bonds in total amounts not to exceed one hundred million dollars ($100,000,000.00) five hundred thirty-two million dollars ($532,000,000.00)
issued for state school capital construction projects and assistance as determined by the legislature under W.S. 21‑15‑111
21‑15‑122. The state loan
and investment board capital financing
commission may issue these bonds only to provide funding for school
capital construction projects in accordance with a
budget recommendation submitted by the state superintendent under W.S. 21‑15‑111 as authorized by the legislature. Any bonds
issued under this section, together with any interest accruing thereon and any
prior redemption premiums due in connection therewith, are payable and
collectible solely out of revenues authorized.
under this section. The bondholders may not look to
any general or other fund for payment of the bonds except the revenues pledged
therefor. The bonds shall not constitute an indebtedness or a debt within the
meaning of any constitutional or statutory provision or limitation. The bonds
shall not be considered or held to be general obligations of the state but
shall constitute its special obligations and the board shall not pledge the
state's full faith and credit for payment of the bonds. Any bonds issued under this section shall be:
(i) Additionally secured by a
reserve fund created from revenues received deposited within the capital
construction account under W.S. 9‑4‑305(b) and 9‑4‑601(a)(vii)
or from the proceeds of the bonds, or both, in an amount determined by the
commission but not to exceed an amount equal to ten percent (10%) of the
revenue bonds outstanding;
(ii) Issued in accordance with
W.S. 9‑5‑401 through 9‑5‑411.
21‑15‑112. Leasing of
capital assets.
(a) The state
superintendent of public instruction, solely for the purpose of ensuring
adequate facilities are available to school districts, and At the request of the
school facilities commission, any school district, may shall lease any land,
building, equipment or other capital asset from the nonprofit corporation
approved by the state building commission pursuant to 1997 Wyoming
session laws, chapter 94, section 3, as amended by 1998 Wyoming session laws,
chapter 35, or approved by the capital
financing commission or state loan and investment board pursuant to W.S. 9‑5‑109
subject to the following conditions:
Section 6.(a) W.S. 21‑15‑118(a)(intro)
and 21‑15‑119 are created to read:
21‑15‑118. Building and
facility construction and renovation projects.
(a) Upon determination by the commission
following review under W.S. 21‑15‑117, and appropriation by the
legislature in accordance with W.S. 21‑15‑122, the commission shall
proceed with projects authorized and approved by the legislature as follows:
21‑15‑119. Commission
budget and funding recommendations; capital facilities leasing agreements.
(a) Notwithstanding W.S. 9‑2‑1012,
the commission shall annually, not later than September 1, and after review by
and in conjunction with the select committee on school facilities, prepare and
submit a recommended budget for projects and school capital construction
financing to the capital financing commission established W.S. 9‑5‑402.
The recommended budget submitted by the commission shall include the amount of
funding for all projects determined under W.S. 21‑15‑118 and
proposed for that budget period, together with estimated expenditures for major
building and facility repair and replacement program payments under W.S. 21‑15‑109
for the same budget period. In
odd-numbered years, the commission's recommendation shall be for expenditures
during the two (2) succeeding fiscal years.
In even-numbered years, the commission's recommendation shall be for
expenditures during the succeeding fiscal year.
(b) The commission may enter into
agreements under which the commission may make payments on behalf of a school
district with respect to the district's lease of school facilities under W.S.
21‑15‑112. The commission may also enter into any agreement with a
nonprofit corporation or other entity necessary to ensure that a district can
lease facilities under W.S. 21‑15‑112.
Section 6.(b) W.S. 21‑15‑111(a)(v) is
amended to read:
21‑15‑111. Definitions.
(a) As used in this act:
(v) (viii) "This
act" means W.S. 21‑15‑105 through
21‑15‑112 21‑15‑108,
21‑15‑109 and 21‑15‑111 through 21‑15‑122.".
Page
60-After line 2 insert:
"Section 8.
(a) Section 4 of this act is
effective only if 2002 House Bill 42 is enacted into law. If House Bill 42 is enacted into law, the
amendments made under section 2 of this act to W.S. 9‑4‑1001(a) and
(c) shall not be effective and the amendments made under section 4 of this act
are effective. If section 4 of this act
becomes effective, the amendments to W.S. 9‑4‑1001(a) and (c) made
by House Bill 42 shall not be effective.
(b) Section 5 of this act is effective
only if 2002 House Bill 43 is enacted into law. If House Bill 43 is enacted into law, W.S. 9‑5‑401(a)(iii)
and (vi) and 9‑5‑403(a)(v) as created under section 1 of this act,
and W.S. 9‑2‑1013(d)(i), 21‑15‑108(b) and 21‑15‑112(a)(intro)
as amended under section 2 of this act, shall not be effective. If section 5 of this act becomes effective,
W.S. 21‑15‑122 as created by House Bill 43, and W.S. 9‑2‑1013(d)(i),
21‑15‑108 and 21‑15‑112(a)(intro) as amended by House
Bill 43, shall not be effective.
(c) Section 6 of this act shall be
effective only if 2002 House Bill 43 is enacted into law. If House Bill 43 is enacted into law, W.S.
21‑15‑118(a)(intro) and 21‑15‑119 as created by House
Bill 43, and W.S. 21‑15‑111(a)(v) as amended by House Bill 43,
shall not be effective.
(d) If section 4, 5 or 6 of this act
becomes effective, the Legislative Service Office is authorized and directed to
amend references to statutory provisions as necessary to conform to the
provisions of sections 4, 5 and 6 of this act as applicable.".
Page 60-line 9 Delete "Section 5" insert
"Section 4".
Renumber as necessary. MOCKLER
3/8/02 S
Passed 2nd Reading
3/9/02 Amendment
Failed
HB0103S3001/FE
(TO ENGROSSED COPY)
Page
16-line 4 Delete "five
hundred" insert "one hundred fifty million dollars
($150,000,000.00)".
Page 16-line 5 Delete line through
"($532,000,000.00)".
Page
52-line 7 Delete and insert "one hundred fifty million dollars ($150,000,000.00)".
Page
52-line 12 After stricken
"($100,000,000.00)" delete balance of line and insert "one hundred fifty million dollars ($150,000,000.00)".
Page 52-line 13 Delete "($532,000,000.00)".
Page
59-After line 8 in the Mockler Second Reading Amendment (HB0103S2001/AE) to
this line, in Section 5.(b), page 4-line 6 delete "five hundred" insert "one hundred fifty million dollars ($150,000,000.00)";
page 4-line 7 delete line through "($532,000,000.00)";
page 4-line 11 delete "five" insert
"one hundred fifty million dollars
($150,000,000.00)"; page 4-line 12 delete line through "($532,000,000.00)". MEIER
ROLL CALL
Ayes: Senator(s) Barton, Case, Cathcart, Decaria, Erb, Geis,
Goodenough, Hinchey, Kinnison, Meier, Schiffer and Youngbauer.
Nays: Senator(s) Anderson, J., Boggs, Coe, Devin, Hanes, Harris, Hawks,
Job, Kunz, Larson, Massie, Miller, C., Mockler, Peck, Roberts, Scott, Sessions
and Vasey.
Ayes
12 Nays 18 Excused 0 Absent 0
Conflicts 0
HB0103S3002/AE
(TO ENGROSSED COPY)
Page
59-After line 8 and Page 60-After line 2 in the Mockler Second Reading
Amendment (HB0103S2001/AE) to these lines, further amend as follows:
Page 5-line 9 of the
referenced amendment, delete "an" insert "and".
Page 5-line 29 of the
referenced amendment, before "W.S." insert "under".
Page
6-line 28 of the referenced amendment, after "effective," delete
balance of line.
Page 6-line 29 of the
referenced amendment, delete first "and".
Page
6-line 42 of the referenced amendment, after first "." insert
"The Legislative Service Office is also authorized to annotate the effect
of sections 4, 5, 6 and this section upon 2002 House Bill 42 and 2002 House
Bill 43 in the 2002 Wyoming Session Laws and any other compilation of these
laws. To the extent this act conflicts
with any provision of 2002 House Bill 42 or 2002 House Bill 43, the provisions
of this act control.". MOCKLER
HB0103S3003/AE
(TO ENGROSSED COPY)
Page
1-line 11 After "proceeds;"
insert "making an appropriation; authorizing positions;".
Page 60-before line 3 Insert and renumber:
"Section 5.
Two
hundred thousand dollars ($200,000.00) is appropriated from the general fund to
the governor to fund initial expenses of the establishment and operation of the
commission through the fiscal period ending June 30, 2003, including necessary
consulting expertise and staff expenses.
The commission shall on or before December 31, 2002, report expenditures
of amounts appropriated under this subsection to the joint appropriations
committee. Three (3) full-time
positions are authorized for staff of the commission.".
Page
60-line 9 Before "of this"
insert "and the appropriation and positions authorized by this
act". LARSON, KUNZ
ROLL CALL
Ayes: Senator(s) Anderson, J., Boggs, Coe, Decaria, Devin, Hanes, Hawks,
Job, Kunz, Larson, Massie, Miller, C., Mockler, Peck, Roberts, Sessions and
Vasey.
Nays: Senator(s) Barton, Case, Cathcart, Erb, Geis, Goodenough, Harris,
Hinchey, Kinnison, Meier, Schiffer, Scott and Youngbauer.
Ayes
17 Nays 13 Excused 0 Absent 0
Conflicts 0
Motion
to Previous Question/3 2NDS/SR 18-6
ROLL CALL
Ayes: Senator(s) Anderson, Barton, Case, Devin, Erb, Geis, Hanes,
Hawks, Hinchey, Kinnison, Kunz, Meier, Schiffer, Scott, Sessions and
Youngbauer.
Nays: Senator(s) Boggs, Cathcart, Coe, Decaria, Goodenough, Harris,
Job, Larson, Massie, Miller, Mockler, Peck, Roberts, and Vasey.
Ayes 16
Nays 14 Excused 0 Absent 0 Conflicts 0
3/9/02 S
Failed 3rd Reading
ROLL CALL
Ayes: Senator(s) Anderson, J., Boggs, Coe, Devin, Hanes, Hawks, Kunz,
Larson, Massie, Miller, C., Mockler, Peck, Sessions and Vasey.
Nays: Senator(s) Barton, Case, Cathcart, Decaria, Erb, Geis,
Goodenough, Harris, Hinchey, Job, Kinnison, Meier, Roberts, Schiffer, Scott and
Youngbauer.
Ayes 14
Nays 16 Excused 0 Absent 0 Conflicts 0
3/9/02 S
Reconsidered
ROLL CALL
Ayes: Senator(s) Anderson, J., Boggs, Coe, Decaria, Devin, Hanes,
Hawks, Job, Kunz, Larson, Massie, Miller, C., Mockler, Peck, Sessions and
Vasey.
Nays: Senator(s) Barton, Case, Cathcart, Erb, Geis, Goodenough, Harris,
Hinchey, Kinnison, Meier, Roberts, Schiffer, Scott and Youngbauer.
Ayes 16
Nays 14 Excused 0 Absent 0 Conflicts 0
3/9/02 S
Failed 3rd Reading
ROLL CALL
Ayes: Senator(s) Anderson, J., Boggs, Coe, Devin, Hanes, Hawks, Kunz,
Larson, Massie, Miller, C., Mockler, Peck, Sessions and Vasey.
Nays: Senator(s) Barton, Case, Cathcart, Decaria, Erb, Geis,
Goodenough, Harris, Hinchey, Job, Kinnison, Meier, Roberts, Schiffer, Scott and
Youngbauer.
Ayes 14
Nays 16 Excused 0 Absent 0
Conflicts 0