SJ 3-2_ Filed 01/26/2007, 10:58

COMMITTEE REPORT

MADAM PRESIDENT:

    The Senate Committee on Appropriations, to which was referred Senate Joint Resolution No. 3, has had the same under consideration and begs leave to report the same back to the Senate with the recommendation that said joint resolution be AMENDED as follows:

SOURCE: Page 1, line 9 -->     Page 1, line 9, after "of" insert " at least".
    Page 1, line 12, delete "decreased." and insert " decreased to less than five hundred million dollars ($500,000,000).".
    Page 2, line 2, after "Fund" insert " and any amount of principal that exceeds five hundred million dollars ($500,000,000)".
    Page 2, delete lines 8 through 16, begin a new paragraph and insert:
    " (a) The principal of the Next Generation Trust Fund shall be derived from and consists of the following sources:
         (1) The balance, as of June 30 after approval by the voters of Indiana of Article 10, Section 9 of the Constitution of the State of Indiana, of the Next Generation Trust Fund established by the General Assembly.
        (2) To the extent the balance described in subdivision (1) is the less than five hundred million dollars ($500,000,000), the
        difference shall be transferred to the Next Generation Trust Fund from:
            (A) the state general fund; or
            (B) other sources the General Assembly specifies by law.
".
    (Reference is to SJR 3 as introduced.)

and when so amended that said joint resolution do pass.

Committee Vote: Yeas 10, Nays 0.

____________________________________

    Wyss
Acting Chairperson


CRSJ0301/DI 73
2007