Date: 03/10/2010

Final
BILL SUMMARY for HB10-1072

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Moved to postpone House Bill 10-1072 indefinitely.PASS



02:03 PM -- House Bill 10-1072 - Concerning a Budget Stabilization Fund

Representative Court, prime sponsor, commented on the background discussions that were taken up by the Interim Committee on Fiscal Stabilization that led to the first draft of the bill. She continued by noting that the funding for the bill was in question due to the most recent economic forecast and asked that the committee postpone the bill indefinitely.

Representative Gerou continued the discussion on the need for a rainy day fund. She closed by discussing the Interim Committee's issues that were brought up during the summer of 2009 and said that the state needs to begin saving for a stabilization fund as soon as possible.

Representative Court distributed a chart prepared by Legislative Council Staff (LCS) on reserve funds (Attachment B) and closed by asking the committee to postpone the bill indefinitely. The committee took the following action.

10HseFin0310AttachB.pdf
BILL:HB10-1072
TIME: 02:09:02 PM
MOVED:Labuda
MOTION:Moved to postpone House Bill 10-1072 indefinitely. The motion passed on a 6-4 vote.
SECONDED:Benefield
VOTE
DelGrosso
No
Frangas
Yes
Gerou
No
Kagan
Yes
Kefalas
Yes
Labuda
Yes
Roberts
Excused
Summers
No
Swalm
No
Benefield
Yes
Judd
Yes
Final YES: 6 NO: 4 EXC: 1 ABS: 0 FINAL ACTION: PASS