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    Friday, November 16, 2018-11:08:01A.M.

     

     

     

     

     

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Speaker looks forward to expeditious enactment of reserve-fund bill

SPEAKER Ralph S. Demapan is looking forward to the enactment of his bill that will reserve funds for the CNMI’s future needs.

House Bill 20-100 is now on the governor’s desk after the Senate passed it last week.

Rafael Sablan Demapan Jr.

 “I thank the House members for their support in passing this bill and the senators, too, for their positive actions last week,” he said in an interview. “I am now looking forward to the governor’s expeditious action as this is a critical bill. This is something that is good for the CNMI so we can be ready for any calamity. Often, we have wait for federal funding in order to address  critical needs following a  calamity. But if this bill becomes law, we will be assured of available local funding to address an emergency.”

The speaker added, “We are generating revenues from the casino industry, and we have to take that opportunity to save some of the funds for emergency purposes.”

Rep. Angel Demapan, who is a co-sponsor of the measure, said: “It’s a good bill. It will give us ample time to establish a reserve fund. After Typhoon Soudelor hit the island in Aug. 2015, we did not have a reserve fund because we still didn’t have the resources for it. But now we can set aside funds so that if  a calamity occurs again, our government will be in better position to address the emergency situation.”