Legislature(2009 - 2010)
2010-01-19 House JournalFull Journal pdf
2010-01-19 House Journal Page 1286 HB 291 HOUSE BILL NO. 291 by the House Rules Committee by request of the Governor, entitled: "An Act relating to the issuance of state-guaranteed revenue bonds by the Alaska Housing Finance Corporation to finance mortgages for qualifying veterans; and providing for an effective date." 2010-01-19 House Journal Page 1287 was read the first time and referred to the House Special Committee on Military & Veterans' Affairs and the State Affairs and Finance Committees. The following fiscal note(s) apply: 1. Fiscal, Office of the Governor The Governor's transmittal letter dated January 12, 2010, follows: "Dear Speaker Chenault: Under the authority of Art. III, Sec. 18, of the Alaska Constitution, I am transmitting a bill relating to the issuance of state-guaranteed revenue bonds by the Alaska Housing Finance Corporation to finance mortgages for qualifying veterans. Alaska has one of the largest percentages of veterans of any state in the nation. This bill will provide continuation of guaranteed veteran housing loans, by the Alaska Housing Finance Corporation. Passage of this legislation is necessary to assure this progress continues. The State of Alaska is one of only a few states that receives favorable treatment under the Internal Revenue Code for guaranteed veterans bonds. This program is designed to provide the lowest possible interest rates to our veterans, without any income limitations. The accompanying bill would provide for a statewide vote at the next general election on authorizing $600 million in Alaska Housing Finance Corporation (AHFC) bonds for qualifying veterans. This would be the sixth such bond approval; the voters authorized a total of $2.7 billion in state-guaranteed AHFC veterans bonds in five elections between 1982 and 2002. AHFC has issued nearly all of those bonds, requiring new authorization. The need for continuing this guaranteed housing loan program for veterans may well increase. Congress has recently expanded the current Internal Revenue Service Code definition of "qualified veterans" to include participants who have served in the more recent years and who were honorably discharged. 2010-01-19 House Journal Page 1288 I urge your prompt and favorable action on this bill. Sincerely, /s/ Sean Parnell Governor"