FORTY-THIRD LEGISLATURE            SB 120/a
                        FIRST SESSION, 1997
  
  
                                                February 24, 1997
  
  Mr. President:
  
      Your FINANCE COMMITTEE, to whom has been referred
  
                    SENATE BILL 120, as amended
  
  has had it under consideration and reports same with recommendation
  that it DO PASS, amended as follows:
  
      
      1.  Strike Senate Education Committee Amendment 1.
  
      2.  On page 3, lines 14 through 22, remove brackets and line-
  through.
  
      3.  On page 3, line 22, after "payment" insert a period and:
  
      "Effective July 1, 2000, the member or employer under Paragraph
  (4) of Subsection A of this section shall contribute to the fund for
  each year of allowed service-credit desired an amount equal to".
  
  
                               Respectfully submitted,
  
  
  
                               __________________________________
                               Ben D. Altamirano, Chairman 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Adopted_______________________   Not Adopted_______________________
            (Chief Clerk)                          (Chief Clerk)
  
  
                    Date ________________________
  
  
  The roll call vote was  6  For  0  Against
          Yes:    6
          No:     None
               Excused:     Aragon, Ingle, Lyons, McKibben, Smith
          Absent: None
  
  
  S0120FC1                                              .117496.1