HOUSE Bill 23-77, which would authorize a $15 million revolving line of credit between the NMI government and Marianas Public Land Trust, now goes to the desk of Gov. Arnold I. Palacios after the House of Representatives unanimously passed the Senate version of the measure on Monday.
All the 19 House members present voted to pass H.B. 23-77 as amended by the Senate.
Rep. Ralph N. Yumul was present in the session but wasn’t in the chamber during the roll-call vote.
The Senate version of H.B. 23-77, which was introduced by Speaker Edmund S. Villagomez, no longer includes the language allowing MPLT to withhold public land interest income due to the general fund as guaranteed payment. This is in consideration of Senate Legislative Initiative 23-1, which proposes to restrict public land income interest for the benefit of Northern Marianas Descents through legislative appropriations.
S.L.I. 23-1 was passed by the Senate in June and is still with the House Committee on Natural Resources.
A legislative initiative is a proposal to amend the CNMI Constitution and must be passed by the affirmative vote of three-fourths of the members of each house present and voting. It cannot be vetoed by the governor, but it must be approved by CNMI voters.
Prior to the roll-call vote on Monday, House Minority Leader Patrick San Nicolas of Tinian said the Senate version “is very prudent and appropriate and would be consistent” with S.L.I. 23-1.
Rep. Blas Jonathan Attao said “it’s unfortunate that we have to get to this point, introducing legislation to allow a line of credit with MPLT.”
He recalled that the U.S. Economic Development Administration used to provide grant money “up front.”
“Unfortunately today, rules have changed so we have to make sure that we abide by them,” Attao said.
EDA grants, which will expire in the next three or four years, are now provided on a reimbursement basis, requiring the CNMI government to front the cost.
That’s why the CNMI government needs to obtain a line of credit from MPLT to get EDA projects rolling, Attao said.
These include the ongoing $11.1 million Garapan Revitalization Project, the $21.1 million Oleai Sports Complex & Cultural Events Center construction project and the Tinian cattle beef industry development project.
Once H.B. 23-77 is signed into law, he said, MPLT and the administration will negotiate the terms and conditions of the loan.
