Meetings
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[Speaker 0]: We're live.
[Speaker 1]: Okay, we're back after a short break. Still continuing, I'll walk through it side by side.
[Speaker 2]: Good, John Gray, Office of Lead and Senate Counsel. We left off at the bottom of page 79. We had just discussed section 74 legacy debt A, and we were moving to sections 75 through 77 where there is no difference. And I
[Speaker 0]: just wanna name that between the yield bill construct as currently negotiated, though far from resolved,
[Speaker 1]: and this construct here, there's a weird gap of a year
[Speaker 0]: where no debt is covered. And so just wanna Oh, how so?
[Speaker 2]: It just is a year?
[Speaker 0]: It's just a it's it's well, we can figure it out. I just wanna well, I'm sure we will figure it out. I just wanna name it because we will have to figure it out eventually. And this this one, if I might, says 07/01/2030. Isn't that supposed to be 07/01/2030? Okay. Did we already discuss that? I'll just
[Speaker 2]: wave my hand because I know that it is effective. Okay,
[Speaker 0]: so the '29. So even with that change, is there still a gap? Yeah, there's still a gap and you can just repeat, yeah.
[Speaker 2]: The gap is related to 12/31/2025 in the legacy debt pay cut off. Oh, for the eligibility. Exactly, you'll recall that the existing exemption from excess spending is voter approved bond payments prior to 07/01/2024. The current discussion kicks that out six months prior to 01/01/2025. But that means you have a year between the exemption and this provision.
[Speaker 0]: And that bill's not closed either. I didn't wanna mean that they're we're gonna need to close that gap at some point. Okay.
[Speaker 1]: And once one way in one bill or the other.
[Speaker 0]: Yep. Yep. Okay. And my preference is this, but
[Speaker 2]: The sections seventy five and seventy seven are no difference between the positions. Those are your technical changes to date at the payment section as in section 77.
[Speaker 1]: Let me know. I didn't say that. It's last minute. This is the last time we knew That
[Speaker 0]: makes it an x.
[Speaker 2]: No lights up.