Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Bonds topic
No spam. Unsubscribe anytime.
Utah House convenes special session; leadership advances HB1001 amending Master Obligation Bond Act
Summary
Governor Michael O. Levitt called the Utah Legislature into a May 15, 2003 special session to consider amendments to the Master Obligation Bond Act and to authorize end-of-year fund transfers; the House moved under suspension of the rules to place House Bill 1001 on third reading but no final vote on the bill appears in the transcript.
The Utah House of Representatives met in special session on May 15, 2003, after a proclamation from Governor Michael O. Levitt calling the 50th Legislature into session to consider amendments to the Master Obligation Bond Act and other measures, including end-of-year transfers between funding sources.
The lieutenant governor read the governor’s proclamation, which cited Article VII, Section 6 of the Utah Constitution as authority to convene the Legislature and listed two primary purposes: amendments to Utah Code Title 63B, Chapter 1A (the Master Obligation Bond Act) and, per a supplemental proclamation, authorization to transfer money between funding sources at fiscal year end to address any imbalance. The proclamation was certified on the House floor by the lieutenant governor.
House members read a notice that House Bill 1,001—described in the record as amendments to the Master Bond Act by Representative Bigelow—was before the body. An unidentified representative moved under suspension of the rules that HB1001 be considered and placed on third reading, enabling expedited consideration of the measure. The transcript records the motion to move the bill to third reading under suspension but does not record a subsequent roll-call or final vote on HB1001 in the provided segments.
Legislative leaders also signaled they would caucus to review updated revenue estimates before completing consideration of the bill. House leadership said the plan was to caucus until about 1:15 p.m. and aim to conclude business by roughly 2:00 p.m., with the House recessing for lunch pending those discussions.
What this means: If enacted, amendments to the Master Obligation Bond Act would adjust the statutory framework that governs the issuance and administration of certain state bonding authority. The supplemental proclamation’s authorization to consider end-of-year transfers could allow the Legislature to reassign funds among state accounts to correct fiscal-year closing imbalances; the transcript does not include details of any proposed transfer amounts or the precise statutory changes in HB1001.
Next steps: The transcript ends with the House recessing for a caucus with plans to resume consideration; the record provided does not show a final vote or adoption of HB1001.
