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House holds session today
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Posted on May 25 1999
Rep. Oscar M. Babauta, chair of the House Committee on Commerce and Tourism, is expected to push in a session today passage of a proposed bill that will establish limited liability on companies on the island.
The comprehensive measure is intended to make the local business climate “friendlier” to investors, particular among small companies, he said in an interview yesterday.
Now adopted in several states in the mainland, the proposal will also provide options for companies whether to become corporation or partnership for protection from future liabilities.
“I will urge members to consider this piece of legislation which is very timely considering our efforts to attract investors into the CNMI,” Babauta said.
Apart from this proposal, the House session scheduled this morning is not expected to tackle major bills. Members had agreed to conduct the session to satisfy the three-day legislative appearance on two pending local measures for the Saipan delegation.
House Speaker Diego T. Benavente said there is no bill pending in their calendar that needs urgent action from members, adding they are awaiting Senate votes on crucial legislation on capital improvement projects.
“The CIP bill and other critical bills are still sitting in the Senate and we’re waiting if those get amended somehow and we will call another session,” he said in an interview after a leadership meeting yesterday.
