New MPLT line-of-credit bill referred back to Senate committee

The Senate has referred back to the Senate Fiscal Affairs Committee a bill that repeals and re-enacts a newly enacted public law that authorizes the Commonwealth government to negotiate a $15-million revolving line of credit with the Marianas Public Land Trust.

Acting on a motion offered by Senate floor leader Sen. Corina L. Magofna (Ind-Saipan) during a session yesterday, senators agreed to return House Bill 23-95, HS1, SS1, to the Senate Fiscal Affairs Committee for further discussion.

The full Senate, however, adopted the committee’s report that recommends passing the legislation with amendments in the form of Senate Substitute 1.

One of the committee report’s recommendations is to insert additional language to include extending the MPLT $15-million revolving line of credit to Rota and Tinian for existing or future U.S. Economic Development Administration’s Capital Improvement Projects and 702 CIP annual projects within the seven-year term of the RLOC.

In response to Saipan Tribune’s questions, Senate President Edith E. DeLeon Guerrero (D-Saipan) said Sunday that Friday’s Senate session was delayed for over an hour because there were more discussions in relation to the MPLT RLOC legislation that requires additional due diligence work.

With the Senate’s adoption of the Fiscal Affairs Committee’s report, though, that leaves the current RLOC proposed amended bill mechanisms in place, DeLeon Guerrero said.

“We can all appreciate the Senate body for taking the extra steps and time to ensure that the current proposed RLOC amended bill mechanism’s potential change is given the proper view and due diligence,” she said.

The Senate president said a meeting before the next scheduled Senate session has been organized to meet again with the key entities involved in the proposed RLOC.

Senate Fiscal Affairs Committee chair Sen. Donald M. Manglona (Ind-Rota) and Magofna, who chairs the Senate Resources, Economic Development and Programs, and Gaming Committee set yesterday a joint meeting for this Thursday, in the Senate chamber at 10:30am.

Manglona and Magofna said they will deliberate jointly on the status of CIP-projects for the municipalities of Rota and Tinian, and House Bill 23-95, HS1, SS1.

Finance Secretary Tracy N. Norita and CIP administrator and acting Office of Planning and Development director Elizabeth S. Balajadia have been invited to the meeting.