{"id":298521,"date":"2019-04-30T06:06:16","date_gmt":"2019-04-29T20:06:16","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=298521"},"modified":"2019-04-30T06:06:16","modified_gmt":"2019-04-29T20:06:16","slug":"house-defers-action-on-mplt-line-of-credit-bill","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/house-defers-action-on-mplt-line-of-credit-bill\/","title":{"rendered":"House defers action on MPLT line-of-credit bill"},"content":{"rendered":"
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House Speaker Blas Jonathan T. Attao (R-Saipan), left, talks to floor leader John Paul P. Sablan (R-Saipan) during a recess in yesterday\u2019s session at the House chamber on Capital Hill. (Jon Perez)
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The CNMI House of Representatives postponed action yesterday on a bill that would establish a credit facility with the Marianas Public Lands Trust.<\/p>\n

The House was scheduled to act on House Bill 21-44 yesterday but chose to delay it and wait for the outcome of a scheduled meeting today between MPLT and the Torres administration.<\/p>\n

In creating a line of credit with MPLT, H.B. 21-44 seeks to help the CNMI government meet its bond obligations and fund payment to the NMI Settlement Fund.<\/p>\n

House floor leader Rep. John Paul P. Sablan (R-Saipan) said the MPLT board will be meeting today\u2014where Gov. Ralph DLG Torres or a representative is expected to also attend\u2014at 4:30pm at the MPLT conference room on Capital Hill. <\/p>\n

\u201cAfter that, we can have more information regarding the bill. We will leave it [H.B. 21-44] in the bill calendar until our next session,\u201d said Sablan.<\/p>\n

House Speaker Blas Jonathan T. Attao (R-Saipan) introduced the measure last week. <\/p>\n

Acting Finance secretary David Atalig told Saipan Tribune that H.B. 21-44 would help the CNMI government\u2019s financial situation, especially in meeting its mandated payment obligation in the stipulation order for the Settlement Fund and the general obligation bond payment due on May 1.<\/p>\n

\u201cI proposed to repay the line of credit with [Federal Emergency Management Agency] reimbursements and general fund collections,\u201d Atalig said, and the bill proposes to use as the collateral or guarantee future interest due the CNMI from MPLT.<\/p>\n

In yesterday\u2019s House session, Attao said H.B. 21-44 is the Legislature\u2019s response to help the CNMI government, especially with the islands recovering from its losses from Super Typhoon Yutu last October.<\/p>\n

\u201cWe\u2019re preparing ourselves for what types of solution we can come up with it in order to cushion the damage from our losses,\u201d he said.<\/p>\n

Rep. Tina Sablan (Ind-Saipan) said the House should seek additional information from Torres and Atalig regarding the planned line of credit. \u201cSo we could get more answers to some of our questions. But it is good to know MPLT and the administration will be meeting to iron out the details. We need to hear from all of them and we need to do this right. It is our understanding that MPLT has some amendments that they would like.\u201d<\/p>\n

In an earlier interview, Attao said that H.B. 21-44 would get money circulating within the community. \u201cIf we are able to get that line of credit, we can put the money into the Settlement Fund and bond obligations for the next couple of months. The money will trickle down to various accounts so we can drawdown and start paying vendors, and even overtime.\u201d<\/p>\n

Senate President Victor B. Hocog (R-Rota) also welcomes the idea of a line of credit and said the Senate is ready to discuss and act on H.B. 21-44 as soon as the House passes it. \u201cIt is not a bad idea to do the line of credit in the event we are hit again with another unforeseen disaster.\u201d
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