CSSB 84(L&C): "An Act relating to bonding and confidentiality of records and information of the Alaska Industrial Development and Export Authority; and providing for an effective date."
00 CS FOR SENATE BILL NO. 84(L&C) 01 "An Act relating to bonding and confidentiality of records and information of the 02 Alaska Industrial Development and Export Authority; and providing for an effective 03 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) Before July 1, 2014 , the authority may issue bonds in an amount 10 greater than $10,000,000 to assist in the financing of a development project under 11 AS 44.88.172 - 44.88.177 only with legislative approval, excluding refunding bonds. 12 Refunding bonds may be issued without further approval by law in a principal 13 amount sufficient to provide funds for the payment of all bonds to be refunded by 14 them and, in addition, for the payment of all other amounts that the authority
01 considers appropriate in connection with the refunding, including expenses 02 incident to the redeeming, calling, retiring, or paying of the outstanding bonds, 03 the funding of reserves, and the issuance of the refunding bonds. Beginning July 1, 04 2014 , and thereafter, without prior legislative approval, the authority may not 05 issue bonds, except refunding and conduit revenue bonds. 06 * Sec. 3. AS 44.88.215(a) is amended to read: 07 (a) In order to promote the purposes of this chapter [AS 44.88], unless the 08 records or information were a matter of public record before submittal to the 09 authority, the following records [, FILES,] and information shall be kept confidential 10 if [UPON THE REQUEST OF] the person supplying the records or information or 11 [UPON THE REQUEST OF] the project, bond, loan, or guarantee applicant or 12 borrower requests confidentiality and makes an adequate showing to the executive 13 director of the authority that the records or information are [:] 14 (1) income tax returns; 15 (2) financial statements, profit-and-loss statements, and cash flow 16 projections, except the information required by the authority to calculate debt service 17 coverage on the loan; 18 (3) financial business plans; 19 (4) credit reports from consumer reporting agencies and other credit 20 information obtained from banks, creditors, or other credit reporting entities; 21 (5) trade secrets, including confidential proprietary information 22 and confidential information about products, pricing, or manufacturing or 23 business processes; 24 (6) appraisals, except the name of the appraiser, the date of the 25 appraisal, and the fair market value determined for the property appraised; 26 (7) market surveys and marketing strategy information; or [AND] 27 (8) any information required to be kept confidential by a federal law or 28 regulation or by state law. 29 * Sec. 4. AS 44.88.215(c) is amended to read: 30 (c) The records and information that the executive director of the authority 31 determines [IS DETERMINED] to be confidential under (a) or (b) of this section are
01 [IS] not [A] public records [RECORD] under AS 40.25.110 - 40.25.220. 02 * Sec. 5. AS 44.88.900 is amended by adding a new paragraph to read: 03 (14) "trade secret" has the meaning given in AS 45.50.940. 04 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to 05 read: 06 REVISOR'S INSTRUCTION. The revisor of statutes shall change the catch line of 07 AS 44.88.215 from "Confidentiality of information" to "Confidentiality of records and 08 information". 09 * Sec. 7. This Act takes effect July 1, 2009.