| Members Present: Sen. Chris H. Wilson, Senate Chair Rep. Douglas V. Sagers, House Chair Rep. Brady Brammer, House Vice Chair Sen. David G. Buxton Sen. Kirk A. Cullimore Sen. Wayne A. Harper Sen. David P. Hinkins Sen. Jani Iwamoto Sen. Karen Mayne Sen. Daniel McCay Rep. Gay Lynn Bennion | Rep. Walt Brooks Rep. Kay J. Christofferson Rep. Clare Collard Rep. A. Cory Maloy Rep. Calvin R. Musselman Rep. Merrill F. Nelson Rep. Jeffrey D. Stenquist Rep. Andrew Stoddard Staff Present: Ivan D. Djambov, Finance Manager Brian Wikle, Financial Analyst Daniel Ryan, Committee Secretary |
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Note: A copy of related materials and an audio recording of the
meeting can be found at www.le.utah.gov.
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| 1. Call to Order |
| House Chair Sagers called the meeting to order at 8:05 a.m. |
| 2. Approval of Minutes |
| MOTION: House Vice Chair Brammer moved to approve the minutes of 10/19/2020. The motion passed with a vote of 16-0-3. | |||
| Yeas - 16 | Nays-0 | Abs-3 | |
| Rep. G. Bennion Rep. B. Brammer Rep. W. Brooks Rep. K. Christofferson Rep. C. Collard Sen. W. Harper Sen. D. Hinkins Sen. J. Iwamoto Rep. A. Maloy Sen. D. McCay Rep. C. Musselman Rep. M. Nelson Rep. D. Sagers Rep. J. Stenquist Rep. A. Stoddard Sen. C. Wilson | Sen. D. Buxton Sen. K. Cullimore Sen. K. Mayne |
| 3. Welcome and Introduction of Subcommittee Members |
| House Chair Sagers asked the committee members to introduce themselves to the public. |
| 4. IGG Tentative Schedule |
| 4-IGG Tentative Agendas |
| Brian Wikle, Financial Analyst, Office of the Legislative Fiscal Analyst (LFA), gave instructions to the committee members for appropriation requests and the committee's schedule for the rest of the session. |
| 5. Bills Affecting Budgets Under IGG's Purview |
| Brian Wikle gave an overview of the rates and fee bills the Legislature will be considering. |
| 5a-ISF (SB8) - IGG |
| Rep. Christofferson asked a question about how agencies derive the rate and fee amounts in S.B. 8. |
| 5b-Compensation (HB8) - IGG |
| House Chair Sagers asked a question to H.B. 8. |
| Sen. Buxton gave an answer to the question. |
| 5c-IGG Base Budget 2021 GS |
| Brian Wikle gave an explanation of the base budget. |
| 6. LFA Summary - Debt Service Budget |
| 6-Debt Service 2021 GS |
| Brian Wikle, Fiscal Analyst, Office of the Legislative Fiscal Analyst, presented the issue brief to the committee and discussed the State's methods for managing debt. |
| House Chair Sagers had a question concerning the debt service. |
| House Chair Sagers made a comment about interest rates on the subject of debt service. |
| House Vice Chair Brammer asked a overview questions about debt service. |
| Sen. Hinkins presented concerns about the debt and House Chair Sagers and Brian Wikle responded. |
| Rep. Musselman presented a concern about the budget report and Brian Wikle and House Chair Sagers responded. |
| House Vice Chair Brammer commented and asked a question about keeping the the AAA rating not at risk. Brian Wikle and House Chair Sagers responded. |
| Rep. Musselman asked a question about the bonds. |
| Sen. Hinkins asked a question about the rating companies for the bonds and House Chair Sagers responded. |
| 7. Other Business |
| MOTION: Rep. Musselman moved to adjourn. The motion passed with a vote of 16-0-3. | |||
| Yeas - 16 | Nays-0 | Abs-3 | |
| Rep. G. Bennion Rep. B. Brammer Rep. W. Brooks Sen. D. Buxton Rep. K. Christofferson Rep. C. Collard Sen. D. Hinkins Sen. J. Iwamoto Rep. A. Maloy Sen. K. Mayne Sen. D. McCay Rep. C. Musselman Rep. M. Nelson Rep. D. Sagers Rep. A. Stoddard Sen. C. Wilson | Sen. K. Cullimore Sen. W. Harper Rep. J. Stenquist |
| 8. Adjourn |