Date: 03/05/2015

Final
Discussion on Potential Committee Legislation

COMMITTEE ON CAPITAL DEVELOPMENT

Votes: View--> Action Taken:
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08:20 AM -- Discussion on Potential Committee Legislation

Ms. Esther van Mourik, Legislative Legal Services, initiated a discussion about two draft pieces of Joint Budget Committee legislation: (1) concerning an automatic funding mechanism for payment of future costs attributable to certain of the state's capital assets (Attachment B); and (2) concerning the creation of a capital reserve in certain cash funds (Attachment C). Ms. van Mourik provided an overview of the draft legislation in Attachment B, and explained its relationship to Attachment C. Discussion ensued regarding the status of cash funding under the proposed legislation in Attachment B, and the application of the draft legislation to state agencies operating as enterprises.

150305 AttachB.pdf150305 AttachB.pdf150305 AttachC.pdf150305 AttachC.pdf

08:31 AM

Ms. van Mourik responded to questions regarding the potential for cash funds reserved under the bill to eventually be diverted to the General Fund, and the potential impact of the draft legislation on sources of federal funding. Ms. van Mourik responded to questions regarding discussions within the Joint Budget Committee about these issues, and the overall intent of the legislation. Discussion returned to the potential for protecting the moneys reserved under the bill from diversion to the General Fund. Ms. van Mourik responded to questions regarding the inclusion of higher education cash funds and higher education revenue bond intercept projects within the scope of the legislation.


08:43 AM

Discussion ensued regarding the management of moneys for controlled maintenance by higher education institutions. Ms. van Mourik responded to questions regarding the exclusion of information technology projects by the draft legislation. Ms. van Mourik further explained the purpose of the draft legislation contained in Attachment C, and noted the status of the draft legislation.


08:48 AM

The committee adjourned.