(Doc Name h:\legwork\house\amend\h-wm\002\112.1 jasper port bh.docx):
EXPLANATION: Amend 112.1 to direct $5 million of excess debt service to Jasper Port permitting.
Amend the bill, as and if amended, Part IB, Section 112, DEBT
SERVICE, page 458, paragraph 112.1, lines 11-14, by striking the
proviso in its entirety and inserting
/ 112.1. (DS: Excess
Debt Service) The State Treasurer shall transfer, from
debt service that exceeds the principal and interest due in the
current fiscal year, $5,000,000 to the State Ports Authority for
Jasper Ocean Terminal Port Permitting. Any additional
excess debt service funds from
available in Fiscal Year
2016-17 2018-19 must
may be carried forward and
expended in Fiscal Year 2017-18 expended in the
fiscal year to pay down general obligation bond debt for
which the State (1) is paying the highest rate of interest, (2)
will achieve relief in constrained debt capacity, or (3) reduce
the amount of debt issued./
Renumber sections to conform.
Amend totals and titles to conform.