S1239............................................................by FINANCE GARVEE - DEBT SERVICE - Authorizing the transfer of up to $3,900,000 to the GARVEE Debt Service Fund to pay the annual scheduled debt service on GARVEE bonds for fiscal year 2007. 03/20 Senate intro - 1st rdg - to printing 03/21 Rpt prt - to Fin Rpt out - rec d/p - to 2nd rdg 03/22 2nd rdg - to 3rd rdg 03/30 3rd rdg - PASSED - 31-0-4 AYES -- Andreason, Bair, Bastian, Broadsword, Burkett, Cameron, Corder, Davis, Fulcher, Gannon, Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, McGee, McKague, McKenzie, Pearce, Richardson, Schroeder, Siddoway, Stegner, Stennett, Werk(Douglas) NAYS -- None Absent and excused -- Bilyeu, Coiner, Darrington, Geddes Floor Sponsor - Keough Title apvd - to House 03/30 House intro - 1st rdg - to 2nd rdg Rls susp - PASSED - 56-5-9 AYES -- Anderson, Andrus, Bayer, Bedke, Bell, Bilbao, Black, Block, Bock, Boe, Bolz, Brackett, Chadderdon, Chavez, Chew, Clark, Collins, Crane, Durst, Eskridge, Hagedorn, Hart, Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, Labrador, Lake, Marriott, Mathews, Mortimer, Moyle, Nielsen, Nonini, Pasley-Stuart, Patrick, Pence, Raybould, Roberts, Ruchti, Rusche, Sayler, Shepherd(2), Shepherd(8), Shirley, Shively, Smith(30), Snodgrass, Stevenson, Vander Woude, Wills, Wood(27), Mr. Speaker NAYS -- Barrett, LeFavour(Herzfeld), Loertscher, Schaefer, Wood(35) Absent and excused -- Bradford, Edmunson, Luker, McGeachin, Ring, Ringo, Smith(24), Thayn, Trail Floor Sponsor - Henderson Title apvd - to Senate 03/30 To enrol - Rpt enrol - Pres signed 04/02 Sp signed - To Governor 04/05 Governor signed Session Law Chapter 368 Effective: 04/05/07
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-ninth Legislature First Regular Session - 2007 IN THE SENATE SENATE BILL NO. 1239 BY FINANCE COMMITTEE 1 AN ACT 2 RELATING TO THE IDAHO TRANSPORTATION BOARD; AUTHORIZING A TRANSFER OF FUNDS 3 FOR DEBT SERVICE IN FISCAL YEAR 2007; AND DECLARING AN EMERGENCY. 4 Be It Enacted by the Legislature of the State of Idaho: 5 SECTION 1. Notwithstanding any other provision of law, the Idaho Trans- 6 portation Board is hereby authorized to transfer up to $3,900,000 from within 7 the State Highway Account to the GARVEE Debt Service Fund to pay the state 8 match as required for federal funds committed to pay the annual scheduled debt 9 service on GARVEE bonds for fiscal year 2007. 10 SECTION 2. An emergency existing therefor, which emergency is hereby 11 declared to exist, this act shall be in full force and effect on and after its 12 passage and approval.
|Statement of Purpose|
This is the fiscal year 2007 Supplemental for the Idaho Transportation Department. This supplemental authorizes the transfer of $3,900,000 in state dedicated funds as a match for federal funds for GARVEE debt service. The fund transfer authorized in this bill provides the required state match portion for the fiscal year 2007 debt service payment on GARVEE bonds authorized in 2006 House Bill 854.
This FY 2007 Supplemental authorizes the Idaho Transportation Department to transfer $3,900,000 in state dedicated funds as a match for federal funds committed to pay the annual scheduled debt service on GARVEE bond for fiscal year 2007.
Contact: Eric Milstead 334-4746
Legislative Services Office, Budget & Policy Analysis
|Statement of Purpose/Fiscal Note||Bill No. S1239|