2007 Legislation
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SENATE BILL NO. 1239 – GARVEE debt service, funds transfer


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Bill Status

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

Bill Text

  ]]]]              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
  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 / Fiscal Impact

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.



Fiscal Note

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