Legislature(2003 - 2004)

05/18/2003 01:03 PM Senate FIN

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
     CS FOR HOUSE BILL NO. 112(FIN)                                                                                             
     "An  Act relating  to the  authority of  the Alaska  Industrial                                                            
     Development  and  Export  Authority  to issue  bonds  and to  a                                                            
     municipal tax exemption  for certain assets and projects of the                                                            
     Alaska Industrial Development and Export Authority; and                                                                    
     providing for an effective date."                                                                                          
This  was the third  hearing  for this  bill in  the Senate  Finance                                                            
Senator  Taylor moved  for adoption  of  HB 112,  23-GH1010\U,  as a                                                            
working draft.                                                                                                                  
Co-Chair Wilken objected  to give an explanation that this committee                                                            
substitute  extends AIDEA  bonding authority  up  to $10 million  to                                                            
July 1, 2007,  as requested by AIDEA representatives.  He added that                                                            
the committee  substitute  extends the municipal  tax exemption  for                                                            
the  Delong Mountain  Transportation  System  to  July  1, 2007.  He                                                            
relayed  the  intent  of  the  Murkowski  Administration   to  draft                                                            
legislation  with the  assistance  of the  State  Tax Assessor  that                                                            
"sets  forth these  decisions"  for  legislative  consideration  the                                                            
following session.  He told of assurances he has received  that this                                                            
committee substitute would not affect other proposed projects.                                                                  
Senator  Olson indicated  that Tech  Cominco, Inc.  does not  oppose                                                            
this committee substitute.                                                                                                      
Co-Chair  Wilken  removed  his  objection  to the  adoption  of  the                                                            
committee substitute and it was ADOPTED without objection.                                                                      
Senator Taylor  offered a  motion to report  CS HB 112, Version  "U"                                                            
from  Committee with  individual  recommendations  and accompanying                                                             
fiscal note.                                                                                                                    
There was no objection  and SCS CS HB 112 (FIN) MOVED from Committee                                                            
with  zero fiscal  note  #1 from  the Department  of  Community  and                                                            
Economic Development.                                                                                                           
AT EASE 1:12 PM / 1:22 PM                                                                                                       

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