I Mina'Trentai Kuåttro Na Liheslaturan Bill HISTORY BILL

34th GL CLERKS OFFICEBill HISTORY8/9/2017 10:55 AM

I Mina'Trentai Kuåttro Na LiheslaturanBILL STATUS

BILLNO.

SPONSOR TITLEDATE

INTRODUCEDDATE

REFERREDCMTE

REFERRED

PUBLICHEARINGDATE

DATECOMMITTEEREPORT FILED

FISCAL NOTES NOTES

5/16/17 Committee on Appropriations and Adjudication

Re‐referred:5/26/17

Re‐referred Committee: Committee on Education,

Finance and Taxation

88‐34 (COR)

James V. Espaldon

8/9/2017

Fiscal NoteRequest5/16/17

Fiscal Note6/9/17

AN ACT TO AMEND ITEM (f) OF § 50103 OF CHAPTER 50,TITLE 12, GUAM CODE ANNOTATED, RELATIVE TOFEES RESULTING FROM THE ISSUANCE OF BONDS ANDOTHER OBLIGATIONS.

7/10/179:00 a.m.

5/11/171:58 p.m.

Page 1

SENATOR JOE S. SAN AGUSTIN Chairman, Committee on Education, Finance, and Taxation

I Mina' Trentai Kuattro na Liheslaturan Guahan Thirty-Fourth Guam Legislature

16 July 2017

The Honorable Benjamin J.F. Cruz Speaker I Mina'trentai Kuattro na Liheslaturan Guahan

155 Hesler Place

._ ~ c ~ Hagama, Guam 96910 qg VIA: \<'rhe ffonoii"ble Regine Bise e Lee

Chairperson, Committee on Rules

RE: Committee Report on Bill No. 88-34 ( COR)

Dear Speaker Cruz: \.fl . .c

Transmitted herewith is the Committee Report on BILL No. 88-34 (COR) - As introduced A by: James V. Espaldon - AN ACT TO AMEND ITEM(£) OF§ 50103 OF CHAPTER 50, TITLE 12, -~ GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS

Committee votes are as follows:

TO DO PASS

TO NOT PASS

~ TO REPORT OUT ONLY

TO ABSTAIN

TO PLACE IN INACTIVE FILE

S. San Agustin Chairman

I RECEIVED

Ran-Care Commercial Building CBU # 230, 761 South Marine Corps Dr., Tamuning, Guam 96913

Tel: 671 -989-5445 + Fax: 671 -969-6737 + [email protected]

COM ITTEEHEARI G

FOR

-3 An act to amend item (f) of§ 50103 of Chapter 50, Title 12, Guam Code Annotated, relative to fees resulting from the issuance of bonds and

other obligations.

SENATOR JOE S. SAN AGUSTIN Chairman, Committee on Education, Finance , and Taxation

I Mina' Trentai Kuattro na Liheslaturan Guahan Thirty-Fourth Guam Legislature

16 July 2017

MEMORANDUM

To: All Members Committee on Rules

From: Senator Joe S. San Agustin Committee Chairman

Subject: Committee Report on Bill No. 88-34 (COR)

Transmitted herewith for your consideration is the Committee Report on Bill No. 88-34 (COR)- "As introduced by: James V. Espaldon -AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS "

This report includes the following:

• • • • • • • • • • •

Copy of COR Referral of Bill No. 88-34 (COR) Notices of Public Hearing Copy of the Public Hearing Agenda Public Hearing Sign-in Sheet Copies of Submitted Written Testimony Committee Vote Sheet Committee Report Digest Copy of Bill No. 88-34 (COR), As Introduced Copy of COR Pre-Referral Checklist on Bill No. 88-34 (COR) Copy of Bill No. 88-34 (COR), As Introduced/ Amended/ Substituted by the Committee NIA Related News Reports

Please take the appropriate action on the attached vote sheet. Your attention to this matter is greatly appreciated. Should you have any questions or concerns, please do not hesitate to contact me.

Sincere I

S. San Agustin

Ran-Care Commercial Building CBU # 230, 761 South Marine Corps Dr., Tamuning, Guam 96913

Tel: 671 -989-5445 • Fax: 671-969-6737 • [email protected]

To:

From:

Date:

Re:

COMMITTEE ON RULES Senator Michael F.Q. San Nicolas, Chairman

I Mina'Trentai Kulittro na Liheslaturmz Guiilzan • 34th Guam Legislature

Rennae Meno Clerk of the Legislature

Attorney Julian Aguon Legislative Legal Counsel

Senator Michael F.Q. San Nicolas Chairman of the Committee on Rules

May 16, 2017

Referral of Bill No. 88-34 (COR)

Buenas yan Hata adai.

As per my authority as Chairman of the Committee on Rules and subject to§ 6.01(d)(1), Rule VI of our Standing Rules (see (B)(2) of the pre-referral checklist), I am forwarding the referral of Bill No. 88-34 (COR).

Please ensure that the subject bill is referred, in my name, to Speaker Benjamin J.F. Cruz, Chairperson of the Committee on Appropriations and Adjudication. I also request that the same be forwarded to the prime sponsor of the subject bill.

After committee review, the subject bill may be further referred by the Committee on Appropriations to the Principal Committee of subject matter jurisdiction, pursuant to§ 6.01(d)(1 ), Rule VI of our Standing Rules. If the Committee on Appropriations determines that a subsequent referral is in order, the Committee on Rules respectfully advises that the subject bill be referred to Senator Joe S. San Agustin, Chairperson of the Committee on Education, Finance and Taxation.

Attached, please see the COR pre-referral checklist for your information, which shall be attached as a committee report item to the bill.

If you have any questions or concerns, please feel free to contact Christian Valencia, Committee on Rules Director, at 472-6453.

Thank you for your attention to this important matter.

CJlJAM CONCJRESS BUILDING • 163 CHALAN SANTO PAPA • HAGATNA, GUAM 96910 Telephone: (67 l) 472-645) • Email address: [email protected]

SPEAKER BENJAMIN J.F. CRUZ Committee on Appropriations and Adjudication

[email protected] I www.senatorbjcruz.com

May 26, 2017

MEMORANDUM

To:

From:

Senator Michael F.Q. San Nicolas Chairman, Committee on Rules

Speaker Benjamin J.F. Cruz

I Mina'ttentai Kuiittl'o na Liheslatumn Guiihan

\ THE 34TH GUAM LEGISLATURE - !

I Guam Congress Building I 163 Chalan Santo Papa, Hagatiia T: (671) 477-2520

Re: Committee Action on Bill No. 88-34 (COR)

HilaAdai!

In accordance with Section 6.0l(d)(l), Rule VI, Part B of I Mina'trentai Kuiittro na Liheslaturan Guiihan, the Co1mnittee on Appropriations and Adjudication (Committee), with the assistance of the Office of Finance and Budget, has reviewed Bill No. 88-34 (COR).

Based on this review, Bill No. 88-34 (COR), is hereby re-referred to the Committee on Education, Finance and Taxation.

Si Yu' OS Ina' ase'

cc: Clerks Senator James V. Espaldon Senator Joe S. San Agustin

34thGLCW11:50Ff1CE Sil!H!STORY

6/9/ZDHU:321'M

88·34 (COR)

James V. Espn!don AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER SO, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES

RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

1:58 p.m.

l lUiua'Trcntai Ktui.ttro Na Liheslaturan BILL STATUS

Re-referred:

S/26/17

Page 1

Committee on Appropriations

and Adjudication

Re-referred Committee: Committee on Education,

Finance and Taxation

Fiscal Note Request

S/16/17

O/LO/Ll"!"I I t.:>ma11- t"IK::> I l\JU I IL.I:: or f-'UDllC Hearing on IV!onoay, ·1u JUIY LU.I I

Rose Mesa <[email protected]>

FIRST NOTICE of Public Hearing on Monday, 10 July 2017 1 message

Rose Mesa <[email protected]> Mon, Jun 26, 2017 at 12:25 PM To: [email protected], "Joe S. San Agustin" <[email protected]> Cc: Guam Legislature Clerks <[email protected]>, [email protected], Management Information System <[email protected]>, Joe San Agustin <[email protected]> Bee: Hope Delos Reyes <[email protected]>, Barbaraann Blas <[email protected]>, [email protected], [email protected]

26 June 2017

MEMORANDUM

To: ALL HONORABLE Senators I Members and Media From: Senator Joe S. San Agustin, Chairman

Subject: FIRST NOTICE of Public Hearing on Monday, 10 July 2017

Buenas yan Hafa Adai!

In accordance with the Open Government Law, relative to notices for public meetings, please be advised that the Committee on Education, Finance, and Taxation will convene a public hearing on Monday, 10 July 2017, beginning at 9:00 am -12:00 pm in I Liheslaturan Guahan's Public Hearing Room (Guam Congress Building, Hagatf\a). The Committee will hear and accept testimonies on the:

Referral of Appointment of Ceasar L. Garcia; Position for Member, Insurance Business Officer Representative, Guam Banking and Insurance Board; Term Length - Six (6) years

Bill No. 63-34 (COR) -As introduced by: Michael F.Q. San Nicolas - AN ACT TO REQUIRE THE DIRECTOR OF THE DEPARTMENT OF REVENUE AND TAXATION TO DETERMINE THE GUAMSOURCED INCOME GENERATED FROM FEDERALLY-CONTRACTED ACTIVITY BY CONTRACTORS WHO DO NOT FILE THEIR TAXES ON GUAM, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO SUCH INCOME, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA. .. HEN GUA. .. HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN.

Bill No. 64-34 (COR) -As introduced by: Michael F.Q. San Nicolas -AN ACT TO REQUIRE THE DEPARTMENT OF REVENUE AND TAXATION TO, IN COLLABORATION WITH THE GUAM INTERNATIONAL AIRPORT AUTHORITY (GIAA), DETERMINE THE AIR TRANSPORTATION TAXES PAID BY INHABITANTS OF GUAM SINCE THE ESTABLISHMENT OF SUCH TAX, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO AIR TRANSPORTATION TAXES, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA. .. HEN GUA. .. HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN.

Bill No. 65-34 (COR) - As introduced by: Michael F.Q. San Nicolas - AN ACT TO REQUIRE THE DIRECTOR OF THE DEPARTMENT OF REVENUE AND TAXATION TO, IN COLLABORATION WITH THE BANKING AND INSURANCE COMMISSIONER, DETERMINE THE GUAM-SOURCED INCOME GENERATED BY BUSINESSES ENGAGED IN MORTGAGE-FINANCING ACTIVITIES AND BANKING, INSURANCE, TRUST, AND INVESTMENT ENTITIES WHO DO NOT FILE THEIR TAXES ON GUAM, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO SUCH

tl/Ltl/L'!"I / L:>ma11- t-IK;::i I l\IU 1ll.;t:or1-'UOllC Hearing on IVIOnaay, ·1u JUIY Lu·1 (

INCOME, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA ... HEN GUA. .. HAN AND THE SPEAKER OF I UHESLATURAN GUAHAN

Bill No. 88-34 (COR) -As introduced by: James V. Espaldon -AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE Al\TNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

BiII No. 108-34 (COR) -As introduced by: Thomas C. Ada -AN ACT TO SET ASIDE LOT I, BLOCK 14 OF TRACT 2831, MUNICIPALITY OF TALOFOFO; AND TO AUTHORIZE THE GOVERNOR TO LICENSE THE PROPERTY TO THE GUAM FOOTBALL (SOCCER) ASSOCIATION FOR THE PURPOSE OF THE CONSTRUCTION OF A SOCCER SPORTS FACILITY THEREIN.

Individuals who wish to submit written testimony may address Senator Joe S. San Agustin, and send it within forty-eight (48) hours to:

Hand delivery to the Office of Senator Joe S. San Agustin at the Ran Care Building, 2nd Floor Suite 3 (CBU#203), 761 South Marine Drive, Tamuning, Guam 96931

Email: [email protected]

All government activities, programs, and services are accessible for people with disabilities in compliance with the Title II of the American with Disabilities Act (ADA). Should you or interested parties require assistance or special accommodations to fully participate in this public hearing, please contact our office at 989-5445 or via email at [email protected] .

Un Dangkolo Na Si Yu'os Ma'ase'

Very Respectfully,

RoseMarie T. Mesa Office Manager I Mina' Trentai Kudttro na Liheslaturan Guahan (Thirty-Fourth Guam Legislature)

Senator Joe S. San Agustin Committee on Education, Finance, and Taxation Office: 671-989-5445 Email: [email protected]

817/2017 Guam Legislature Mail - SECOND NOTICE of Public Hearing on Monday, 10 July 2017

Jean Cordero <[email protected]>

SECOND NOTICE of Public Hearing on Monday, 10 July 2017 1 message

Rose Mesa <[email protected]> Wed, Jul 5, 2017 at 10:03 AM To: [email protected], "Joe S. San Agustin" <[email protected]> Cc: [email protected], Guam Legislature Clerks <[email protected]>, Management Information System <[email protected]>, Joe San Agustin <[email protected]>

5 July 2017

MEMORANDUM

To: ALL HONORABLE Senators I Members and Media

From: Senator Joe S. San Agustin, Chairman

Subject: SECOND NOTICE of Public Hearing on Monday, 10 July 2017

Buenas yan Hafa Adai!

In accordance with the Open Government Law, relative to notices for public meetings, please be advised that the Committee on Education, Finance, and Taxation will convene a public hearing on Monday. 10 July 2017. beginning at 9:00 am -12:00 pm in I Lihes/aturan Guahan's Public Hearing Room (Guam Congress Building, Hagatria). The Committee will hear and accept testimonies on the:


Bill No. 63-34 (COR) -As introduced by: Michael F.Q. San Nicolas - AN ACT TO REQUIRE THE DIRECTOR OF THE DEPARTMENT OF REVENUE AND TAXATION TO DETERMINE THE GUAMSOURCED INCOME GENERATED FROM FEDERALLY-CONTRACTED ACTIVITY BY CONTRACTORS WHO DO NOT FILE THEIR TAXES ON GUAM, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO SUCH INCOME, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA. .. HEN GUA ... HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN.

Bill No. 64-34 (COR) - As introduced by: Michael F.Q. San Nicolas - AN ACT TO REQUIRE THE DEPARTMENT OF REVENUE AND TAXATION TO, IN COLLABORATION WITH THE GUAM INTERNATIONAL AIRPORT AUTHORITY (GIAA), DETERMINE THE AIR TRANSPORTATION TAXES PAID BY INHABITANTS OF GUAM SINCE THE ESTABLISHMENT OF SUCH TAX, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO AIR TRANSPORTATION TAXES, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'lA ... HEN GUA ... HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN.

Bill No. 65-34 (COR) - As introduced by: Michael F.Q. San Nicolas - AN ACT TO REQUIRE THE DIRECTOR OF THE DEPARTMENT OF REVENUE AND TAXATION TO, IN COLLABORATION WITH THE BANKING AND INSURANCE COMMISSIONER, DETERMINE THE GUAM-SOURCED INCOME GENERATED BY BUSINESSES ENGAGED IN MORTGAGE-FINANCING ACTIVITIES AND BANKING, INSURANCE, TRUST, AND INVESTMENT ENTITIES WHO DO NOT FILE THEIR

Subject: SECOND NOTICE of Public Hearing on Monday, 10 July 2017 (cont)

https://mail.google.com/mail/u/O/?ui=2&ik=6f08ed12a7&jsver=921eTe34hY8.en.&view=pt&q=rose.senatorsa%40gmail.com&qs=true&search=query&th... 1/3

817/2017 Guam Legislature Mail - SECOND NOTICE of Public Hearing on Monday, 10 July 2017

TAXES ON GUAM, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO SUCH INCOME, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA ... HEN GU.A. .. HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN

Bill No. 88-34 (COR) -As introduced by: James V. Espaldon -AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

Bill No. 123-34 (COR) - As introduced by: William M. Castro I Tommy A. Morrison I Joe S. San Agustin I Dennis G. Rodriguez, Jr. - AN ACT TO EXTEND "NON-COMMERCIAL DRIVER'S LICENSE RECIPROCITY" TO RESIDENTS OF THE COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS (CNMI) WHO ARE UNITED STATES CITIZENS ISSUED BY HIS OR HER HOME ISLAND BY ADDING A NEW SECTION TO TITLE 16 GUAM CODE ANNOTATED - SECTION 3101. LICENSE: REQUIREMENT.

BILL NO. 122-34 (CORl - As introduced by: Thomas A. Morrison I B.J. Cruz -AN ACT TO AMEND § 26403 OF ARTICLE 4, CHAPTER 26, DNISION 2, TITLE 11, GUAM CODE ANNOTATED, RELATIVE TO INCREMENTALLY INCREASING THE LIQUID FUEL TAX RATES FOR THE PURPOSE OF FUNDING VILLAGE ROAD REPAIR AND CONSTRUCTION PROJECTS.

Individuals who wish to submit written testimony may address Senator Joe S. San Agustin, and send it within fortyeight ( 48) hours to:

Individuals who wish to submit written testimony may address Senator Joe S. San Agustin, and send it within forty-eight (48) hours to:

Hand delivery to the Office of Senator Joe S. San Agustin at the Ran Care Building, 2nd Floor Suite 3 (CBU#203), 761 South Marine Drive, Tamuning, Guam 96931

Email:

All government activities, programs, and services are accessible for people with disabilities in compliance with the Title II of the American with Disabilities Act (ADA). Should you or interested parties require assistance or special accommodations to fully participate in this public hearing, please contact our office at 989-5445 or via email at

Un Dangkolo Na Si Yu'os Ma'ase'

Very Respecffully,

RoseMarie T. Mesa Office Manager I Mina' Trentai Kuattro na Liheslaturan Guahan (Thirty-Fourth Guam Legislature)

Senator Joe S. San Agustin Committee on Education, Finance, and Taxation Office: Email:


8/7/2017 Guam Legislature Mail - SECOND NOTICE of Public Hearing on Monday, 10 July 2017

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Office of

SEN AT 0 R Joe S. San Agustin I Mina' Trentai Kuattro na Liheslaturan Guahan Thirty-Fourth Guam Legislature

CONFIRMATION HEARING

Thursday, July 10, 2017

Guam Congress Building Public Hearing Room

AGENDA

9:00 am


Bill No. 63-34 (COR) -As introduced by: Michael F.Q. San Nicolas -AN ACT TO REQUIRE THE DIRECTOR OF THE DEPARTMENT OF REVENUE AND TAXATION TO DETERMINE THE GUAM-SOURCED INCOME GENERATED FROM FEDERALLY-CONTRACTED ACTIVITY BY CONTRACTORS WHO DO NOT FILE THEIR TAXES ON GUAM, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO SUCH INCOME, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA. .. HEN GUA. .. HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN.

Bill No. 64-34 (COR) -As introduced by: Michael F.Q. San Nicolas -AN ACT TO REQUIRE THE DEPARTMENT OF REVENUE AND TAXATION TO, IN COLLABORATION WITH THE GUAM INTERNATIONAL AIRPORT AUTHORITY (GIAA), DETERMINE THE AIR TRANSPORTATION TAXES PAID BY INHABITANTS OF GUAM SINCE THE ESTABLISHMENT OF SUCH TAX, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO AIR TRANSPORTATION TAXES, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA. .. HEN GUA ... HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN.

Bill No. 65-34 (COR) -As introduced by: Michael F.Q. San Nicolas -AN ACT TO REQUIRE THE DIRECTOR OF THE DEPARTMENT OF REVENUE AND TAXATION TO, IN COLLABORATION WITH THE BANKING AND INSURANCE COMMISSIONER, DETERMINE THE GUAM-SOURCED INCOME GENERATED BY BUSINESSES ENGAGED IN MORTGAGE-FINANCING ACTIVITIES AND BANKING, INSURANCE, TRUST, AND INVESTMENT ENTITIES WHO DO NOT FILE THEIR Subject: SECOND NOTICE of Public Hearing on Monday, 10 July 2017 (cont)

Committee Chairman: Education - Finance - & Taxation

Ran - Care Commercial Building, CBU #230, 761 South Marine Corps Dr., Tamuning, Guam 96913 Tel: (671) 989-5445 * Fax: (671) 969-6737 * email: [email protected]

TAXES ON GUAM, RECONCILE SUCH INFORMATION WITH THE SECTION 30 REIMBURSEMENTS ATTRIBUTABLE TO SUCH INCOME, AND REPORT ITS FINDINGS FOR FURTHER ACTION TO I MAGA'LA ... HEN GUA ... HAN AND THE SPEAKER OF I LIHESLATURAN GUAHAN

Bill No. 88-34 (COR) - As introduced by: James V. Espaldon - AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

Bill No. 123-34 (COR) -As introduced by: William M. Castro I Tommy A. Morrison I Joe S. San Agustin I Dennis G. Rodriguez, Jr. - AN ACT TO EXTEND "NON-COMMERCIAL DRIVER'S LICENSE RECIPROCITY" TO RESIDENTS OF THE COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS (CNMI) WHO ARE UNITED STATES CITIZENS ISSUED BY HIS OR HER HOME ISLAND BY ADDING A NEW SECTION TO TITLE 16 GUAM CODE ANNOTATED - SECTION 3101. LICENSE: REQUIREMENT.

BILL NO. 122-34 (COR) - As introduced by: Thomas A. Morrison I B.J. Cruz - AN ACT TO AMEND§ 26403 OF ARTICLE 4, CHAPTER 26, DIVISION 2, TITLE 11, GUAM CODE ANNOTATED, RELATIVE TO INCREMENTALLY INCREASING THE LIQUID FUEL TAX RATES FOR THE PURPOSE OF FUNDING VILLAGE ROAD REP AIR AND CONSTRUCTION PROJECTS. Individuals who wish to submit written testimony may address Senator Joe S. San Agustin, and send it within forty-eight ( 48) hours to:

SEN A T 0 R Joe S. San Agustin I Mina' Trentai Kuattro na Liheslaturan Guahan Thirty-Fou rth Guam Legislature

Public Hearing Sign-in Sheet July 10, 2017• 9:00 am • Guam Congress Building

BiJI No. 88-34 (COR) -As introduced by: James V. Espaldon -AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

NAME

Page _\_ of _l__

AGENCY OR SUPPORT? WRITTEN ORAL CONTACT ORGANIZATION (IF ANY) OPPOSE? TESTIMONY TESTIMONY NUMBER

----~

-----~ i....-----

------~ i---

~ ~ ~

~

-----~

------


Ran - Care Commercial Building, CBU #230, 761 South Marine Corps Dr., Tamuning, Guam 96913 Tel: (671) 989-5445 * Fax: (671) 969-6737 * email: [email protected]

EMAIL ADDRESS

------ , ~

EDDIE BAZA CALVO Governor of Guam I Maya' La hen Guahan

JAY ROJAS Admi11istrator

Admi11astrndot

RAY TENORIO Lt. GovemarofGuam I Segundo Na Maga'lahe11 Guali'111

MANA SILVA TA!JERON Deputy Administrator

Sig undo Na Adminastradot

Aturidt1d lnadilanton /Jwnumihan Guahan

July 10, 2017

Senator Joe S. San Agustin Committee on Education, Finance & Taxation I Mina'trentai Kuattro na Liheslaturan Guahan Guam Congress Building 163 Chalan Santo Papa Hagatna, Guam 96932

RE: GEDA Testimony on Bill No. 88-34 (COR)

Hafa Adai Chairman Joe S. San Augustine and Senators on the Committee on Education, Finance &

Taxation!

My apologies for not participating personally at this hearing as I am off-island on official travel but I would like to provide this testimony in opposition of Bill No. 88-34 (COR), "AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS."

The bill proposes that the Guam Economic Development Authority (GEDA) fees charged for work tied to the issuance of bonds be paid from the source of repayment for the bonds and other obligations and not be included in the amount to be borrowed.

With each bond issue, GEDA serves as the "quarterback" for the financing with an objective to help reduce interest expense tied to the bond issuance. GEDA provides advice and assistance on matters such as selecting the method of sale (competitive, negotiated, private placement, direct bank loan, etc.), structuring the financings, sale timing, marketing, fairness of pricing, obtaining credit ratings, evaluating cost effectiveness of credit enhancement and other matters. Unlike the underwriter of the bonds, GEDA has a fiduciary obligation to represent the interests of the issuer.

GEDA currently receives fees the same way it is done for essentially every bond issue in the municipal bond market, whereby financial advisors (GEDA), rating agencies, bond counsel, printing, etc. are capitalized into bond proceeds.

Difficulty for autonomous agency operating funds. GEDA serves as the financial manager for autonomous agencies to include the Guam Power Authority, the Guam Waterworks Authority, the Guam Airport Authority and the Port Authority of Guam to name a few. Their revenues may be constrained to operational expenses; the payment of GEDA fees tied to a bond issuance may create an extra financial burden that may not be easily absorbed in their operating funds.

1

590 S. Marine Corps, Dr. Suite 511 ITC Building Tamuning, GUAM 96913

T 671.647.4332. F 671.649.4146 www.invest9uam.com

GEDA Testimony on Bill No. 88-34 (COR) Page 2 of 2

July 10, 2017

To the extent issuance expenses are included in the financings, it is possible to setup a separate amortization schedule in which issuance expenses are covered with the first couple of years of bond payments, taking advantage of the lower rates on the yield curve, reducing any added interest cost.

We thank you for the opportunity to provide this testimony on Bill 88-34 (COR) and we look forward to working with you and the Committee on Education, Finance & Taxation on future initiatives.

Si Yu'os Ma'ase,

1590 S. Marine Corps, Dr. Suite 511 ITC Building

TatnLtning, GUAM 96913 I T 671.~47-4332 F671.649.4146 www.1nvestguam.com

Office of

SEN AT 0 R Joe S. San Agustin I Mina' Trentai Kuattro na Liheslaturan Guahan Thirty-Fourth Guam Legislature

COMMITTEE VOTE SHEET

Bill No. 88-34 (COR) - As introduced by: James V. Espaldon - AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

Committee Members

Senator Joe S. San Agustin Chairman

Senator Dennis G. Rodriguea, Jr. Vice Chairperson (Rev & Tax, & Finance)

Senator William "Wil" M. Castro Vice Chairperson (Education)

NAME JamesV. Espaldon Member

Senator Fernando B. Esteves Member

Senator Louise B. Muna Member

Senator Therese M. Terlaje Member

Signature TODO PASS

/

TO NOT I TO REPORT I TO PASS OUT ONLY ABSTAIN


TO PLACE IN INACTIVE

FILE

Ran - Care Commercial Building, l'BU #230, 761 South Marine C01ps Dr., Tamuning, Guam 96913 Tel: (671) 989-5445 * Fax: (671) 969-6737 * email: [email protected]

SENATOR JOE S. SAN AGUSTIN Chairman, Committee on Education, Finance, and Taxation

I Mina' TrentaiKuattronaLiheslaturanGuahanThirty-Fourth Guam Legislature

Committee Report

I. OVERVIEW

The Committee on Education, Finance, and Taxation convened a public hearing July 10,, 2017 , at I Liheslatura's Public Hearing Room. On the agenda was the introduction of Bill No 88-34 (COR)

Public Notice Requirements

Notices were disseminated via email to all senators and all main media broadcasting outlets on (l8t notice) Monday July 03, 2017 and (2nd notice) on Wednesday, July 05, 2017.

(a) Committee Members and Senators present:

Chairman, Senator Joe S. San Augustin

Vice Chairman, Senator Wil Castro

Speaker Benjamin J. F. Cruz

Vice Speaker, Therese M. Terlaje

Senator Thomas "Tommy" A. Morriso

Senator Frank B. Aguon, Jr.

Senator James V. Espaldon

(b) Appearing before the committee:

NONE

(c) Written Testimonv Submitted:

NONE

II. COMMITTEE PRECEEDINGS

Chairman San Agustin: We will now move to moving along now, moved to Bill No. 88-34 (COR), which also has nobody testifying and that bill was introduced by Senator James Espaldon on an item of F of 501 Chapter 50, Title 12, Guam Code Annotated, relative to issuance and bonds, being that even the sponsors is not here.

Chairman San Agustin: I did mention earlier that we looked at Bill No. 88-34 (COR), now that the sponsor is here I would like to bring it back, and I ask the sponsor, the Bill is an "Act to Amend" Senator Espaldon, Sir.

Ran Care Bldg., Suite 3, 2nct Floor, 761 S. Marine Corps Dr., Tamuning, Guam 96913

Tel: 671-989-5445 + Fax: 671-969-6737 •[email protected]

Senator Espaldon: Thank you Mr. Chairman, I apologize there was a mixed up in my schedule and I was anticipating for the public hearing on this particular Bill to be heard this afternoon. And of course (laughed) I was wrong, but thank you for allowing it to come back. Mr. Chairman, in several past requests to issue bonds. I have been successful in getting my colleagues support for the initiative for us today. The aim of Bill No. 88-34 (COR) is straightforward. Whenever a request comes before the legislature to issue bonds, any fees that GEDA may be entitled to receive shall be paid from the source of repayment and not be included on the amount to be bond market. Determining in the past there has been many instances where bonds have been issued, and those fees that are due to GEDA for administrating the whole process are paid out of the proceeds from the bonds. In other words if we go out to a bond market say for example and borrow a hundred million dollars the fee that are to be paid by GEDA are taken from that hundred million dollars that would just borrow it on, so what happens is that the fees that we are paying to GEDA actually accumulate interest over time and that is at a cost of the people I have reviewed the physical note issued by DDMR and I would be willing to include in the bill the option of GEDA bills being amortized over the first year or two of a bond issue under principle only debt service payments in the case of refinancing of existing bonds there should be no problem paying GEDAS feed from the savings to be realized by the refinancing. Most of the time when we go to the bond market for refinancing its because the market rates are lower then what e borrowed at in the past so the logic is that well if we are going to save money because we are going to refinance the bonds then really the fee should come out of the savings that we are gonna realize and there will be no interest paid upon those fees. My overall goal in this legislation is to minimize the cost to taxpayers and ratepayers for any bond issue I have other responses to the fiscal note but I will listen to the testimony before making them or wait till we discuss this in session. I ask my colleagues support in this language being added to the enabling statue for GEDA as one of several steps to be taken we need determining the costs of insurance of any future bonds. Thank you, Mr Chairman.

Chairman San Agustin: All right thank you Senator Espaldon, mad' am Vice Speaker would you like to comment?

Vice Speaker Terlaje: I would Mr. Chairman, thank you very much and I wanted to commend the sponsor of his bill. It looks like a great bill and if its going to save the people of Guam money especially in borrowing it's a very good idea. I am very concerned Mr Chairman, I would like to put in the record that GEDA is not here to comment on this bill and the fiscal note we have received this from DDMR but not from GEDA and I think things like this they are supposed to be our financial advisors for the Government of Guam for borrowing and the costs of borrowing so I would like to hear from them, Mr. Chairman, in regards to this bill otherwise on the face of it, it looks like a very good idea. Si yu'os ma'ase.

Chairman San Agustin: Yes, thank you, Senator Espaldon, I like your proffered amendment and because you stated it here in the public hearing, like I said to Senator Morrison, if you submit it, its heard in public hearing and it will be part of the committee report as amended your bill because I like that it is like borrowing money for your house you do not take it out of the loan you paid up the closing costs you pay everything separate from what you borrow and that is a very good way to do business and I would appreciate it if you could submit it and then we will be part of the committee unless you have anything else to set up ..

Senator Espaldon: Just to ensure you that I will submit my testimony or at least my opening statement on this bill for the committee to look over. Thank you Mr. Chairman.

Chairman San Agustin: Thank you, this has completed the hearings on Mr. Garcia (appointee), Bill No. 63-34 (COR, Bill No. 64-34 (COR), Bill No. 65-34 (COR), Bill No. 88-34 (COR), Bill No. 122-34 (COR), and Bill No. 123-34 (COR).

III. COMMITTEE FINDINGS AND RECOMMENDATIONS

The Committee on Education, Taxation, and Finance to which was referred, at the request of the sponsor of Bill 88-34, here by report out by the committee with the recommendation TO DO PASS

2

I MINA' TRENTAI KUATTRO NA LIHESLATURAN GUAHAN 2017 {FIRST) REGULAR SESSION

Bill No. <;?<t -34(af.)

Introduced by: James V. Espaldon ~ t......-

~ AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

1 BE IT ENACTED BY THE PEOPLE OF GUAM:

2 Section 1. Item (f) of§ 50103 of Chapter 50, Title 12, Guam

3 Code Annotated, is amended to read:

4 "(f) The Corporation is authorized to issue, sell or dispose of

s revenue bonds and other obligations from time to time under such terms

6 and conditions as the Guam Legislature, by appropriate legislation may

7 prescribe. The proceeds of such bonds and obligations shall be used

8 solely to finance specifically authorized corporate programs. All fees

9 that the Corporation may be eligible for resulting from its role as the

10 Central Financial Manager for the government of Guam, shall be paid

11 from the source of repayment for the bonds and other obligations and

12 shall not be included in the amount to be boffowed."

= ::::::i

1

COMMITTEE ON RULES Senator Michael F.Q. San Nicolas, Chairman

I M ina'Tr81tai Kuattro na Liheslaturan Gu6han • 34th Guam Legislature

PRE-REFERRAL CHECKLIST

BILL NO. 88-34 (COR) AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

(A) Legal Bureau

(B) Office of Finance & Budget (OFB)

CORAction

(1) One subject matter? [Sl).--§ 6.0l(a), 2 GCA § 2108(a)] ~YES o NO (Return to Prime Sponsor)

(2) Conform to Standing Rules as to form and style? [SI} §§ 6.02(b) and ( d), 6.03( d)] ~YES o NO (Return to Prime Sponsor)

(1) Does the Bill contain appropriations or authorizations for appropriations from any fund sources? o YES i!rNO

(2) Does the Bill contain an authorization to expend go~rnment funds? u;r"YES o NO · o NIA

(3) Does the Bill contain provisions that have potential fiscal impacts on th~overnment of Guam budget? IB'YES o NO o N/ A Is the fiscal impact revenue negative to the government of Guam budget?

DYES (Refer to Committee on

~rnpriations)

ON/A

Notice to Legal Bureau:

Completed by Legal Bureau:

5 /lh/17 q:30arY1 I I

Notice to OFB:

Completed by OFB:

s /12/17 2~ 2..1 pWl

(JLJAM CONURESS BUILD!Nl) • 163 CHALAN SANTO PAPA • HAGATNA, UlJAM %910 Telephone: (671) 472-6453 • Email address: [email protected]

Page 1of2

PRE-REFERRAL CHECKLIST

BILL NO. 88-34 (COR) AN ACT TO AMEND ITEM (f) OF § 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

(C) DEBT

(1) SR§ 6.01 (b)(l)(A) Land, Infrastructure, Building Projects, Capital Improvement Projects

(2) SR§ 6.01 (b)(l)(B) Refinancing of existing debt (not less than 2%)

(3) SR§ 6.01 (b)(2) Authorize public debt to fund operations of agency, instrumentality, public corporation

CORAction

For COR Office Use Only

~A oYES o NO (Return to Prime Sponsor)

~A oYES o NO (Return to Prime Sponsor)

NIA o YES (Return to Prime Sponsor) oNO o Waived (per official state of

emergency, as attached)

o J3.eturn to Prime Sponsor EJ'R.efer to:

Atrr· ~ ~S.Si~

Pursuant to COR decision (COR Meeting, April 3, 2017):

Completed within five (5) working days?

r:f"YEs ONO

Date & Time:

Initial: cO ~

lfNO: Provide letter of explanation (see attached).

GUAM CONU!USS BUILD!Nl1 • 163 CHALAN SANTO PAPA 0 HAGATNA, GUAM 96910 Telqilioat•: (671) 472-6453 ° Email address: corguaml<•[email protected]

Page 2 of 2

To:

From:

Re:

COMMITTEE ON RULES Senator Michael F.Q. San Nicolas, Cllair111a11

I Mina'Trentai Kwlttro na Lilzcslat1mm Gulilian • 34i1i Guam Legislature

9 2on

Rennae Meno Clerk of the Legislature

Senator Michael F.Q. San Nicolas Chairman of the Committee on Rules

Fiscal Notes

Buenas yan Hafa adai.

Attached, please find the fiscal note for the following bill:

Bill No. 88-34 (COR)

Please forward the same to Management Information Services (MIS) for posting on our website.

For any questions or concerns, please feel free to contact Christian Valencia, Committee on Rules Director, at 472-2461.

Thank you for your attention to this important matter.

Sen or Michael F.Q. ~n Nicolas Chairman of the Commit\ee on Rules

GlJAM CONGRESS l3UILDING 0 16) CIJALAN SANTO PAPA " IIAGATNA, GlJAM 96910 Telep Ii one: (67 l) 472-6453 " Email address: [email protected]

Bureau .of Budget & Management Research Fiscal Note of Bill No. 88-34 (COR)

A,'I ACI' TO AMEND ITEM (i) O.F § 5l03 OF CHAPTER SO, TITLE 12, GUAM CODE ANNOTATED, HELATJVE TO FEES

1u:SULTING FROM TllE ISSUA~CJ<: OF BONDS AND OTmm OBl.IGATIONS.

:imimmmmmmm111mmmrnmmrnmm1mmmim1mmw1~~~~;~t~~~r~1~~~~~1=~*~~~'~M~ffi~#W~~~1f:i#!immmmrn:1mimmmrnmmm1mmm1wrnwmmrnmmm Dept./Agency Affected: Administrafion JoeptJAgency Head: Christine Baleto, Director

Department's General Fund (GF) appropriation(s) to date:

Department's Other Fund (S11ccify) approprintion(s) to dale: IDC ($1, 106,989). SLF ($4,839,364), TAF (S4S,OOO),

GHJ<' (Sl,685,276), and TEFF ($10,113,927).

Tofnl Department/Agency Appropriation(s) to date:

27,077,028

17.790,556

S44,867,58-4

mmmm1mrnmrnmrnrnmm1m1mmwim1mrnmirnmm~m~~1~~~~~~11~m~~,1~~~:~f mff:~R~#~m\~ttr~P:r.rn~ftmrniwmi1111:m111m111mrnrnmm1m1:mmmrnmrn~wm~i General Fund: HOTF & TEFF Total:

FY 2017 Adopted Revenues

FY 2017 Appro. (P.L. 33-185 thru P.L. 33-2401

Sub-total:

Tohd:

JI Not avuilablc at this liml".

One full fiscal Y car

For Remainder of 1''Y 2017 FY 2018

General Fund

Specify Special

Fuml2

Total

$0

$0

$0

(if applicable)

$190,346

S20,746

$211 092

21 Territorial Education Facilities and tlu.· Uotel Occupuncy Tax Fund

1. Does the bill contain "revenue generating" provisions'! If Yes, see attadunent

$836,685

$91,192

$927 877

2. Is amount appropriated ndequnte to fund lhc intent of the a1111ro11riation? If no, what is the additional :m1ount re111tlretl? S 223,593 for FY 2017

3. Docs the Bill establlsh a new 11rogramlageney? If yes, will !he program duplicate existing programs/agencies? Is there a federal mandate: to establish the prngram/agency'!

4. Will the enactment of this Bill require new physical facilities'?

$681,271,974

($672,778,133)

$8,493,841

($199,445)

$8,294,396

f\' 2019

I I NIA 11 NIA

!xi NIA

$0

$0

so

S. Was J<'iscal Note coordinated with the affected dept/agency? lf no, indicate reason: I I Requested agency comments not received by due date I I Other:

Footnotes:

Plc11se sec attacbecl comment sheet.

so so S209,189,674 $890,461,648

(Sl97,31 l,672) ($870,089,805)

$11,878,002 $20,371,843

($24,148) {$223,593)

s J 1,853,854 $20,148,250

FY 2020 1"\'2021

so so

$0 so

so so

Yes / x I No

Yes Ix/ !';o

Yes Ix! No Yes I I No Yes / x I No Yes I xi No

I x I Yes I I No

Comments on Legislative Bill No: 88-34

This proposed legislation is seeking to redirect fees earned by the Guam Economic Development Authority (GEDA) by applying such fee payments from bond proceeds to funding appropriated each fiscal year for the payments of the annual debt services. The Guam Economic Development Authority's (GEDA) comment of such proposal follows:

"GEDA is mandated to serve as the Central Financial Manager for the Government of Guam as per 12GCA, Section 50103 (k)."

"The issue with this proposed bill is that the cost of finance, nom1ally covered with bond proceeds, puts a strain on vitally needed operating revenues, not only for the general fund but for the autonomous agencies, to include GIAA, GP A, GW A and possibly even the Port Authority of Guam. To cover GED A's fees would require a new appropriation from those individual entities, which will then be passed on to the tax payer/ rate payer."

"Our recommended solution will be to work with underwriters and bond counsel to ensure that GEDA fees be paid by the first couple of years principal payments as opposed to stretching that cost over the remaining bond payments through maturity."

The Bureau of Budget and Management Research concurs with GEDA.

In FY 2016, GEDA earned $927,877 from bond fees 1, which represents approximately 30.25

percent of GED A's total actual revenues of$3,066,460. For FY 2017, it is assumed that the anticipated revenues would be the same as in FY 2016. Ofthis amount, it is further assumed that up to $844,368 is attributed to general obligation and limited obligation bonds funded by the General Fund (GF) and other Special Revenue Funds (SRF). This amount represents 91 percent of the total bond fee revenues to be earned by GEDA in FY 2017.

Should this proposed legislation is passed in July 2017, a total fiscal impact to current General Fund (GF) and Special Revenue Funds (SRF) appropriations2 could be as high as $211,092 which is calculated based on the three remaining months of this fiscal year. This amount is not included in the current Budget Act of2017; therefore such proposal is considered an unfunded mandate, unless a separate appropriation is made to cover such bond payments. This same process of identifying available funding would also take place at GIAA, GP A, GW A and possibility at PAG.

Furthermore, the funding requirement of this proposal would be caITied forward into FY 2018, which would also potentialiy impact up to $844,368 of dcpaiimental appropriations, since such funding requirement was not anticipated in the Governor's FY 2018 Executive Budget Request.

I/ Per GEDA's FY 2016 Audit

21 Lineur projection used to il!ustrnte potential funding impact.

;:,peaKer 1:1en1am1n J.r. i....ruz, Member

Vice Speaker Therese M. Terlaje, Member

Senator Thomas C. Ada , Member

Senator Frank B. Aguon, Jr., Member

Senator Telena C. Nelson, Member

COMMITTEE ON RULES SENATOR REGINE BISCOE LEE, CHAIR

SIKRITARIAN LIHESLATURAN GUAHAN I MINA'TRENTAI KUATTRO NA LIHESLATURAN GUAHAN

LEGISLATIVE SECRETARY• 34TH GUAM LEGISLATURE

COMMITTEE REPORT CHECKLIST Part _L/--+--

BILL NO. 88-34 (COR)

.::>er1u1u1 uer1r11!> u . KUUll~Ut:L, JI. ,

Member

Senator Joe S. San Agustin, Member

Senator Michael F.Q. San Nicolas, Member

Senator James V. Espaldon, Member

Senator Mary C. Torres, Member

AN ACT TO AMEND ITEM (f) OF§ 50103 OF CHAPTER 50, TITLE 12, GUAM CODE ANNOTATED, RELATIVE TO FEES

RESULTING FROM THE ISSUANCE OF BONDS AND OTHER OBLIGATIONS.

REFERRED TO: Committee on Education, Finance, and Taxation; Senator Joe S. San Agustin; Chairperson

(A) FISCAL NOTE or WAIVER

(1) Requested by COR Date & Time: £ YES o NO S-\Lo-\'1 '\:\\ffn, (2) Received by COR Date & Time: ~ES o NO [11-'\~\'\ \(l:0'°6 Qni (3) Waived by C9R Date & Time: D YES ...t'NO

( 4) Bill contains appropriations or authorizations for appropriations from any fund sources? o YES ~o

If YES: (4/5)(a) Funding Availability Note/Waiver (OFB) attached? o YES

D NO (Unable to file CMTE Report)

(4/5)(b) Funding source identified? 2 GCA § 9101

>--------------------1 o YES

o NO (Proceed to (A)(6))

( 5) Bill contains an authorization to expend government funds?

(4/5)(c) Funds available and sufficient?

/yES o NO 2 GCA § 9101

o YES

o NO (Proceed to (A)(6)) (6) Restrictions Against Unfunded Appropriations (2 GCA § 9101)

o Identifies specific alternate funding source

o De-appropriates from previous appropriation with available funds and fiscal note

o Written certification by CMTE Chair that a situation exists w hich "threatens the safety, health and welfare of the community"

T~m~· ·~-- ! l'I~ - , _ ....., · ·°"<-'·( . 'ilk : -3 . f'!T'fWl~E: ·· • - · !: . --

._!

If no boxes checked:

UNABLE TO PLACE ON SESSION AGENDA

2 GCA § 9102

GUAM CON G R ESS B U I.LD IN G • 163 CH A LA N SANTO PAPA • HAG AT NA , GUAM 9691 0 T elepho n e: (6 71) 47 2- :14 55 • E ma il a ddr ess: co r g u a m lc::g islat u re@g 1u a il. co m

Committee Report Checklist on Bill No. 88-34 (COR) Part _l__; _1_

(B) PUBLIC HEARING

(1) HEARING NOTICES SR§ § 6.04(a) (l) and 6.04(a)(2) , Open Government Law (5 GCA, Ch. 8)

,;<("Ca) Five (5) working days prior A L Senators & ALL Media

(b) Forty-eight (48) hours prior (ALL Senators & ALL Media)

(2) Date and Time of Hearing:

Date and Time of Notice: -- ) ... \ 'l a:~ Date and Time of Notice:

or (4) HEARING WAIVED

by Speaker in case of emergency

SR § 6.04(a)(l)

o YES o NO flN/A

If YES: Attach memo indicating

WAIVER

or SUBSTITUTIONS BY COMMITTEE SR§ 6.04(b)

(a) Committee elects to substitute bill?

o YES foNO

(b) Bill materially different after committee amendment or substitution?

o YES ~O

If YES: Date and Time:

( a)(l) Vote sheet affirmative? DYES D NO

(a)(2) Preliminary report filed with COR? SR § 6.04(b)(2)

o YES o NO

( a)(3) Public Hearing noticed? DYES D NO

If YES: SECONDARY PUBLIC HEARING

MAY BE REQUIRED

SR § 6.04(c) (3)

DYES D NO

COR Chair

GUA M CONG RESS BUILDING • 163 C HA LAN SANTO PAPA • HAGATNA, GUAM 9691 0 Telephone: (671) 4 7 2-:1455 • E mail a.Jdrcss: c0Tguam l "g islature@g111a i l. co111

Committee Report Checklist on Bill No. 88-34 (COR) Part --1-f -1-

( C) COMMITTEE REPORT

(1) Committee Report filed with COR?

~YES o NO

If YES:

Notes:

Date & Time: 11-d'5-\V1 te:v-D<A:Y' (1 )(a) Secondary CMTE Report filed with COR?

DYES o NO ~/A

If YES: Date & Time:

If NO: UNABLE TO PLACE ON

SESSION AGENDA SR§ 6.04(d)(l)

(2) LAND LEGISLATION

(a) Bill involves government taking, transfer, purchase, or lease of land? D YES o NO z"N; A

(a)(l) Please indicate on both columns:

(i) Type of (ii) Type of entity: transaction: o Government

o Taking o Non-government o Transfer

o Purchase

o Lease

(b) Bill involves legislative land rezoning?

o YES o NO _;;n:J!A

(b )( 1) Bill involves legislative rezoning of property zoned Agricultural (A)?

o YES o NO /NIA

If YES: ATTACH TWO (2)

PROPERTY APPRAISALS TO CMTE REPORT SR§ 6.04(c)(4)

2 GCA § 2107(b)

If YES: INCLUDE

Land Zoning Consideration Report

2 GCA § 2110

If YES: INCLUDE

Agricultural Consideration Report (Dept. of Agriculture)

2 GCA § 2110 [Proceed to lblr2ll

(b)(2) Proof of Agricultural consideration report reviewed by Guam Land Use Commis~on? 21 GCA § 61 637

oYES oNO efN/A

~- ~ ~-1

' i~~~-------GUAM CONG RESS l3UlLD lN G • 163 C HA LAN SANTO PAPA • 1-lAGATNA, GUAM 96910

Telephone: (67 1) 4 72-:1455 • E m ai l a<ld(e:;:;: corguaml •g i:;latuH·@gmai l. co m

Committee Report Checklist on Bill No. 88-34 (COR) Part --1-JL

(3) G.A.R.R. LEGISLATION SR§ 6.04(c)(l)

5 GCA && 9301 and 9303 a) Bill involves approving or If YES: amending Ru/es and INCLUDE Regulations?

jl('N/ A Economic Impact Statement

o YES D NO 5 GCA §§ 9301 (d) , 930 1 (e) , 9301 (f)

(4) COMMITTEE REPORT COMPONENTS

(a) Front Page Transmittal to Speaker ~ (a)(l) COR Chair Signature Line Jl1'

(b) Title Page ,0"'

(c) Committee Chair Memo to All Committee Members )Zf'

( d) COR Referral Memorandum ~

(e) Notice of Public Hearing & Other Correspondence ;zf (D} COMMITTEE

(f) Public Hearing Agenda Jd"' REPORT

(g) Public Hearing Sign-in Sheet J/ (continued) (h) Written Testimonies & Additional Documents D

(i) Committee Vote Sheet(s) JZ"' U) Committee Report Digest(s) J2"

(k) Bill History .ef"" (k)(l) Copy of Bil l as introduced z (k)(2) COR Pre-Referral Checklist $ (k)(3) Copy of Bill as corrected by Prime Sponsor (if applicable) D

(k)(4) Copy of Bill as amended/substituted by Committee (if applicable) D

(I) Fiscal Note/Waiver and Funding Availability Note (OFB) ~ (m) Two (2) Property Appraisals (if applicable) D

(n) Related News Reports (optional) D

(o) Miscellaneous (optional ) D

(p) Committee Report Checklist(s) JZ(

p CMTE Report duly filed; Available for Placement on Session Agenda COR CHAIR

(E} COR Action o CMTE Report non-conforming X:"'~a1cxze1 for acceptance; Return to Committee

&n.\ .C, . ~. ~ili(\G. M ._)

,__ __ ....

~

GUAM CONC RESS BUILDING • 163 C HALAN SANTO PAPA • HAGAT NA, GUAM 96910 Telephone: {67 1) 472-3455 • Emai l a ddre s s: corguamkg i ~latur<·@g111ai l. co m