Adopted

AMENDMENT NO 1 PROPOSED TO

Cmte Sub for House Bill No.  819

BY: Representative Reeves

     Amend on lines52, 55, 58, 61, 64 and 70 by striking the word "invest" and inserting in lieu thereof:  "investment"

     Amend further on line 65 by striking paragraph (f) in its entirety, and inserting in lieu thereof, the following:

          "(f)  In the sixth and subsequent years thereto of funds disbursement, one hundred percent (100%) of funds received shall be deposited in the fund until the trust funds reaches a balance of Five Hundred Million Dollars ($500,000,000.00), at which time the Legislature may disburse twenty-five percent (25%) of incoming funds together with interest and investment income for use in accordance with Section 2(1) of this act."

     Amend further on lines 72 and 73 by striking:  "the conflicting provisions of this act will be of no effect" and inserting in lieu thereof the following:  "federal laws or regulations shall control"