CSHB 90(L&C): "An Act relating to bonding limitations and confidentiality of records and information of the Alaska Industrial Development and Export Authority; and providing for an effective date."

00 CS FOR HOUSE BILL NO. 90(L&C) 01 "An Act relating to bonding limitations and confidentiality of records and information 02 of the Alaska Industrial Development and Export Authority; and providing for an 03 effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 44.88.095(a) is amended to read: 06 (a) The authority may not issue bonds in a 12-month period in an amount that 07 exceeds $400,000,000, excluding refunding and conduit revenue bonds. 08 * Sec. 2. AS 44.88.095(g) is amended to read: 09 (g) The [BEFORE JULY 1, 2007, THE] authority may issue bonds in an 10 amount greater than $10,000,000 to assist in the financing of a development project 11 under AS 44.88.172 - 44.88.177 only if approved by law, excluding refunding 12 bonds. Refunding bonds may be issued without further approval by law in a 13 principal amount sufficient to provide funds for the payment of all bonds to be 14 refunded by them and, in addition, for the payment of all other amounts that the

01 authority considers appropriate in connection with the refunding, including 02 expenses incident to the redeeming, calling, retiring, or paying of the outstanding 03 bonds, the funding of reserves, and the issuance of the refunding bonds [WITH 04 LEGISLATIVE APPROVAL. BEGINNING JULY 1, 2007, AND THEREAFTER, 05 WITHOUT PRIOR LEGISLATIVE APPROVAL, THE AUTHORITY MAY NOT 06 ISSUE BONDS, EXCEPT REFUNDING AND CONDUIT REVENUE BONDS]. 07 * Sec. 3. AS 44.88.215(a) is amended to read: 08 (a) In order to promote the purposes of this chapter [AS 44.88], unless the 09 records or information were a matter of public record before submittal to the 10 authority, the following records [, FILES,] and information shall be kept confidential 11 if [UPON THE REQUEST OF] the person supplying the records or information or 12 [UPON THE REQUEST OF] the project, bond, loan, or guarantee applicant or 13 borrower requests confidentiality and makes an adequate showing to the executive 14 director of the authority that the records or information are [:] 15 (1) income tax returns; 16 (2) financial statements, profit-and-loss statements, and cash flow 17 projections, except the information required by the authority to calculate debt service 18 coverage on the loan; 19 (3) financial business plans; 20 (4) credit reports from consumer reporting agencies and other credit 21 information obtained from banks, creditors, or other credit reporting entities; 22 (5) trade secrets, including confidential proprietary information 23 and confidential information about products, pricing, or manufacturing or 24 business processes; 25 (6) appraisals, except the name of the appraiser, the date of the 26 appraisal, and the fair market value determined for the property appraised; 27 (7) market surveys and marketing strategy information; or [AND] 28 (8) any information required to be kept confidential by a federal law or 29 regulation or by state law. 30 * Sec. 4. AS 44.88.215(c) is amended to read: 31 (c) The records and information that the executive director of the authority

01 determines [IS DETERMINED] to be confidential under (a) or (b) of this section are 02 [IS] not [A] public records [RECORD] under AS 40.25.110 - 40.25.220. 03 * Sec. 5. AS 44.88.900 is amended by adding a new paragraph to read: 04 (14) "trade secret" has the meaning given in AS 45.50.940. 05 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to 06 read: 07 REVISOR'S INSTRUCTION. The revisor of statutes shall change the heading of 08 AS 44.88.215 from "Confidentiality of information" to "Confidentiality of records and 09 information." 10 * Sec. 7. This Act takes effect July 1, 2009.