GOVERNMENT BILL 165

Chairman Jeremy Spencer submitted the following report regarding Government Bill 165, "General Trust Revision Act", on Sunday, April 11th 2004, on behalf of the Government Operations Committee, and pursuant to its Monday, April 5th 2004 recommendations, by general consent:

As provided by Senate Rule 14(b), the committee requests that the Senate President place Government Bill 165 on the calendar for second reading.

Attendance:

There were four (4) Members (Birdsell, Matthews, Ortega, Spencer) present.

There were three (3) Members (English, Feldman, Giaquinto) absent.

A quorum was present.

The following officials were also present: Cleary, Fabricius, Pendergrass

Purpose of Legislation:

This legislation revises the manner in which surplus funds are handled.

Background Information:

The legislation follows the recommendations of the Committee on the General Trust.

Recommendations:

The committee recommends the Senate adopt the bill.