75th Legislative Session -- 2000

Committee: House Appropriations

                                            P - Present
                                            E - Excused
                                            A - Absent

Roll Call
P      Cerny
P      Burg
E      Sutton (Daniel)
P      Derby
P      Clark
P      Pummel
P      Klaudt
P      Wudel
P      Putnam, Vice-Chair
P      Richter, Chair


OTHERS PRESENT: See Original Minutes

The meeting was called to order by

REVENUE ESTIMATES

Mr. Dale Bertsch, LRC, presented the committee with FY2000 and FY2001 General Fund Revenue Estimate (Document #1).

Included in his presentation was a sales tax collections history along with other economic variables. He explained that there are different factors that affect the amount of sales and use tax paid into the state treasury. These include economic variables, consumer confidence as well as such natural occurrences such as drought, flood, etc.

Mr. Bertsch said the technique he uses for analyzing some of the data is known as regression analysis.

Bureau of Finance & Management, presented the committee with an Economic and Revenue Forecast (Document #2).

In his prepared remarks, Mr. Dilges gave an overview of the U.S. economy saying that we are in the 107th month of economic expansion and the GDB growth for 1999 was 4 per cent.

---

Mr. Dilges reviewed the economy of South Dakota citing the low interest rates, low unemployment rate, wage gains and successful harvest as factors for a strong economy.

A motion was made by Representative Richter, seconded by Senator Drake that the FY2000 revenue estimate submitted by the legislative Research Council in the amount of $767,020,168 be adopted.
Motion prevailed on a roll call vote.

Senators voting aye: Dennert, Duxbury, Lange, Benson, Bogue, Hainje, Kleven, Drake and Frederick.
Senators voting nay: Staggers.

Representatives voting aye: Cerny, Burg, Derby, Clark, Pummel, Klaudt, Wudel, Putnam and Richter.
Excused: Representative Sutton (Daniel).

A Motion was made by Senator Drake, Seconded by Representative Wudel to adopt the FY2001 revenue estimate submitted by the Bureau of Finance and Management in the amount of $795,890,618.

A substitute motion was made by Senator Staggers and seconded by Representative Klaudt that the revenue estimate be lowered to $790,000,000. Motion failed on a voice vote.

The original motion prevailed on a roll call vote.

Senators voting aye: Duxbury, Benson, Hainje, Kleven, Drake and Frederick.
Senators voting nay: Dennert, Lange and Staggers
Excused: Bogue

Representatives voting any: Burg, Derby, Clark, Pummel, Klaudt, Wudel, Putnam and Richter.
Representatives voting nay: Cerny
Excused: Sutton (Daniel)

MOTION:      ADJOURN

Moved by:      Representative Klaudt
Second by:      Representative Wudel
Action:      Prevailed by voice vote.

Jeanette Black

Committee Secretary