House of Representatives State of Utah


         UTAH STATE CAPITOL COMPLEX . 350 STATE CAPITOL
Figure

Graphic file number 0 named letter~1.jpg with height 78 p and width 81 p Left aligned
         P.O. BOX 145030 . SALT LAKE CITY, UTAH 84114-5030 . (801) 538-1029

        February 20, 2008

Mr. Speaker:

    The Business and Labor Committee reports a favorable recommendation on H.J.R. 12, JOINT RESOLUTION AMENDING THE UTAH CONSTITUTION - STOCK SUBSCRIPTIONS, by Representative D. Clark, with the following amendments:


1.    Page 1, Lines 1 through 2 :    

             1     

JOINT RESOLUTION AMENDING THE UTAH

             2     
CONSTITUTION - STOCK
  AND BOND       SUBSCRIPTIONS



2.    Page 1, Lines 10 through 11 :    

             10          This joint resolution of the Legislature proposes to amend the Utah Constitution to
             11      amend a provision relating to the subscription to stock
  or bonds       .



3.    Page 1, Lines 13 through 16 :    

             13          This resolution proposes to amend the Utah Constitution to:
             14          .    authorize the state to subscribe to stock
  or bonds       using funds in the permanent State School

             15      Fund and funds derived from federal land grants designated in the Enabling Act,
             16      except as limited by statute.



4.    Page 2, Lines 38 through 41 :    

             38          (3) Except as limited by statute, the State may subscribe to stock
  or bonds       with:

             39          (a) funds in the permanent State School Fund established in Article X, Section 5; and
             40          (b) funds derived from federal land grants designated in Sections 8 and 12 of the
             41      Enabling Act of the State.

    Respectfully,

    Stephen D. Clark
    Committee Chair

Voting: 8-3-2
3 HJR012.HC1.wpd 2/20/08 10:14 am anicholson/AMN RHR/JTW

Bill Number
Action Class
Action Code

*HJR012*
*H*
*HCRAMD*

 HJR012
H
HCRAMD