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<br />Representative Walt Younglund <br />March 11, 1980 <br />Page two <br /> <br />This amount will be much too s~all to permit engineering work to <br />go forward in a timely manner if the legislature substantially <br />increases the monies in the co~struction fund. This provision <br />needs to be amended during thi@ session. I will get suggested <br />language to you shortly. <br /> <br />5. We need to consider whether s.n. 537 (1979 session) should be <br />repealed or whether H.B. 1039 ~nd H.B. 1040 should be adjusted to <br />account for the monies already provided by S.B. 537. <br /> <br />A. For e~ample, if the goal were to get $25 million in the <br />construction fund for FY 81-82 (see paragraph 2 above), <br />S.B. 537 already provides $10 million towards that. <br /> <br />B. In addition, roughly $2-3 million in mineral leasing funds <br />will be credited to the construction fund in FY 81-82. <br /> <br />C. Thus, H.B. 1039 and H.B. 1040 would need to be adjusted <br />accordingly for FY 81-82 it S.B. 537 is not repealed. After <br />FY 8l~82, however, there is no such problem since S.B. 537 <br />expires in FY 81-82 by its own terms. <br /> <br />6. Finally, keep in mind that S.B. 170 (1979 session) will, commencing <br />in FY 81-82, create a severance tax trust fund which can, with <br />legislative authorization, be used to construct water projects. <br />See the attached memo for an estimate of the revenues which will be <br />credited to this trust fund over the next several years. <br /> <br />BMcD:mm <br />Enclosures <br /> <br />