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HOUSE CONCURRENT RESOLUTION NO. 44

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Daily Data Tracking History

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HCR044.....................................................by STATE AFFAIRS
UNDERGROUND STORAGE TANKS - Stating findings of the legislature and
recognizing the fiscal impact of the provision authorizing the State
Treasurer to invest in the Small Business Administration guaranteed portion
of any loan to finance the addition to or retrofit of an underground
storage tank or underground storage tank system and adopts the legislative
intent that the State Treasurer continue these investments at the level
necessary to meet the demand.

02/25    House intro - 1st rdg - to printing
02/26    Rpt prt - to St Aff
03/03    Rpt out - rec d/p - to 2nd rdg
03/04    2nd rdg - to 3rd rdg
03/06    3rd rdg - ADOPTED - voice vote - to Senate
03/09    Senate intro - 1st rdg - to St Aff
03/17    Rpt out - rec d/p - to 10th Ord
03/19    10th ord - ADOPTED, voice vote
    Title apvd - to House
03/23    To enrol - rpt enrol - Sp signed
    Pres signed - to Secretary of State

Bill Text

HCR044


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998
                                                                        

                             IN THE HOUSE OF REPRESENTATIVES

                            HOUSE CONCURRENT RESOLUTION NO. 44

                                BY STATE AFFAIRS COMMITTEE

 1                               A CONCURRENT RESOLUTION
 2    STATING FINDINGS OF THE LEGISLATURE CONCERNING INVESTMENT OF STATE  MONEYS  BY
 3        THE  STATE  TREASURER  IN  THE UNITED STATES SMALL BUSINESS ADMINISTRATION
 4        GUARANTEED PORTION OF LOANS FOR PURPOSES  OF  FINANCING  ADDITIONS  TO  OR
 5        RETROFITS OF UNDERGROUND STORAGE TANKS OR TANK SYSTEMS.

 6    Be It Resolved by the Legislature of the State of Idaho:

 7        WHEREAS,  the Legislature has recognized the importance to the citizens of
 8    the state of Idaho that the state's citizens have ready  access  to  petroleum
 9    products stored and delivered in a safe, secure manner; and
10        WHEREAS, following the enactment of underground storage tank upgrade regu-
11    lations  promulgated by the United States Environmental Protection Agency pur-
12    suant to subtitle I of the  Solid  Waste  Disposal  Act,  as  amended  by  the
13    Resource  Conservation  and  Recovery  Act,  the  Legislature enacted programs
14    intended to assist tank operators to meet these requirements and maintain sup-
15    ply; and
16        WHEREAS, in 1993, the First Regular Session of the Forty-second Idaho Leg-
17    islature charged the State Treasurer with the purchase of the government guar-
18    anteed portion of the Small Business Administration loans specifically for the
19    purpose of financing the addition to or retrofit  of  an  underground  storage
20    tank  or underground storage tank system to bring the tank or tank system into
21    compliance; and
22        WHEREAS, at the time of this charge to the State Treasurer, it was antici-
23    pated that the program would have limited fiscal  impact  and  be  limited  in
24    size,  but since that time, the State Treasurer has been called upon to expand
25    the program well beyond the original estimated scope; and
26        WHEREAS, as a result of  the  loan  guarantees,  the  State  Treasurer  is
27    investing state funds at a flat interest rate between 3% and 4% which is below
28    the  amount  which  could  be realized on other investments, and represents an
29    indirect expenditure of state resources; and
30        WHEREAS, it is appropriate that  the  Legislature  recognize  the  current
31    impact of the program authorized in 1993, and adopt a statement of Legislative
32    intent that the State Treasurer continue the program at the level necessary to
33    meet the demand.
34        NOW,  THEREFORE,  BE IT RESOLVED by the members of the Second Regular Ses-
35    sion of the Fifty-fourth Idaho Legislature, the House of  Representatives  and
36    the  Senate  concurring  therein,  that  the Legislature recognizes the fiscal
37    impact of the provisions of Section 67-1210, Idaho Code, which authorizes  the
38    State Treasurer to invest in the Small Business Administration guaranteed por-
39    tion  of  any  loan  to  finance the addition to or retrofit of an underground
40    storage tank or underground storage tank system, and adopts this statement  of
41    legislative  intent that the State Treasurer continue these investments at the
42    level necessary to meet the demand.

Statement of Purpose / Fiscal Impact

    





                          STATEMENT OF PURPOSE
    
                                RS08135
    
    This is a concurrent resolution to state the findings of a the 
    legislature concerning the investment of State monies by the 
    State Treasurer in the U.S. Small Business Administration portion 
    of loans for purposes of financing additions to or retrofits of, 
    underground storage tanks or tank systems.
    
                              FISCAL NOTE
    
    No fiscal impact
    
    CONTACT: Liza Carberry
             332-2999
    
    
    
    
    HCR 44