Legislature(2015 - 2016)BELTZ 105 (TSBldg)

04/07/2016 01:30 PM LABOR & COMMERCE

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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+= SB 193 EXTEND EXEMPTION FOR SMALL POWER PLANTS TELECONFERENCED
Moved CSSB 193(L&C) Out of Committee
+= HB 268 AIDEA:DIVIDEND TO STATE;INCOME;VALUATION TELECONFERENCED
Moved HB 268 Out of Committee
+ HB 305 RECREATIONAL/AVOCATIONAL TRAINING EXEMPT. TELECONFERENCED
Heard & Held
+= SB 118 DNR LAND DISPOSAL SURVEYS; PEER REVIEW TELECONFERENCED
Heard & Held
+ HB 314 AK REG ECON ASSIST. PROGRAM; EXTEND TELECONFERENCED
Heard & Held
+ Bills Previously Heard/Scheduled TELECONFERENCED
-- Public Testimony --
       HB 268-AIDEA: DIVIDEND TO STATE; INCOME; VALUATION                                                                   
                                                                                                                                
2:02:24 PM                                                                                                                    
CHAIR  COSTELLO   reconvened  the   meeting  and   announced  the                                                               
consideration of HB  268. She noted that the  committee heard the                                                               
Senate version of the bill.                                                                                                     
                                                                                                                                
2:03:15 PM                                                                                                                    
GENE THERRIAULT,  Policy Director, Alaska  Industrial Development                                                               
and  Export  Authority  (AIDEA),  said the  committee  heard  the                                                               
Senate  version  of  HB  268  on 2/25/16  and  this  language  is                                                               
identical to  the Senate version.  He summarized on page  2, line                                                               
3, the  bill intends to  add an  exclusion to the  calculation of                                                               
the  AIDEA dividend.  He discussed  what wasn't  anticipated when                                                               
the  legislation passed  initially.  HB 268  will  result in  the                                                               
dividend being calculated on the true net income.                                                                               
                                                                                                                                
He explained  the two  problems the  bill attempts  to fix  - the                                                               
mark-to-market  adjustment and  outside appropriation  net income                                                               
issues.                                                                                                                         
                                                                                                                                
He noted the slide program  in members' packets. He explained the                                                               
stacking of Governmental Accounting  Standards Board (GASB) rules                                                               
that will increase the uncertainty of the dividend.                                                                             
                                                                                                                                
2:09:03 PM                                                                                                                    
CHAIR COSTELLO referenced page 2,  beginning on line 9, and asked                                                               
why the  bill adds definitions  to project development,  and what                                                               
AS 44.88.900 is.                                                                                                                
                                                                                                                                
MR. THERRIAULT  explained that on  page 2, line 5,  excluding the                                                               
losses  is discussed.  Because there  are multiple  programs, the                                                               
money  could  come into  various  funds.  Project development  is                                                               
added along with the list of financing tools AIDEA has.                                                                         
                                                                                                                                
CHAIR  COSTELLO asked  if the  other bill  creating another  fund                                                               
would be added, were it to pass.                                                                                                
                                                                                                                                
MR. THERRIAULT said yes, if it passes.                                                                                          
                                                                                                                                
2:11:02 PM                                                                                                                    
SENATOR MEYER asked what affect this will have on the dividend.                                                                 
                                                                                                                                
MR. THERRIAULT said  it will probably not  increase the dividend,                                                               
just "narrow  the band of  uncertainty around the  expectation of                                                               
what the dividend is likely to be."                                                                                             
                                                                                                                                
CHAIR COSTELLO asked why that is significant.                                                                                   
                                                                                                                                
MR. THERRIAULT  explained that it brings  more predictability for                                                               
both the state and AIDEA.                                                                                                       
                                                                                                                                
CHAIR COSTELLO  asked about  the genesis  of suggestions  made in                                                               
the bill.                                                                                                                       
                                                                                                                                
MR. THERRIAULT  said they came at  the suggestion of Mr.  Lamb at                                                               
AIDEA.                                                                                                                          
                                                                                                                                
SENATOR STEVENS asked if additional GASB issues are anticipated.                                                                
                                                                                                                                
MR. THERRRIAULT deferred the question to Mr. Lamb.                                                                              
                                                                                                                                
2:13:56 PM                                                                                                                    
MICHAEL   LAMB,  Chief   Financial  Officer,   Alaska  Industrial                                                               
Development  and  Export  Authority (AIDEA),  answered  questions                                                               
related to  HB 268.  He listed the  upcoming GASB  statements and                                                               
advised  that they  are constantly  coming out.  Currently, there                                                               
are about  79 GASB statements.  The bill uses  the mark-to-market                                                               
fair value to capture future rules.                                                                                             
                                                                                                                                
2:16:16 PM                                                                                                                    
CHAIR COSTELLO closed public testimony  on HB 268 and solicited a                                                               
motion.                                                                                                                         
                                                                                                                                
2:16:27 PM                                                                                                                    
SENATOR  GIESSEL moved  to report  HB  268, labeled  29-GH2708\A,                                                               
from  committee  with  individual  recommendations  and  attached                                                               
fiscal note.                                                                                                                    
                                                                                                                                
2:16:44 PM                                                                                                                    
CHAIR  COSTELLO  announced  that  without objection,  HB  268  is                                                               
reported from the Senate Labor and Commerce Standing Committee.                                                                 

Document Name Date/Time Subjects
CSSB 193 (L&C) Ver. H.pdf SL&C 4/7/2016 1:30:00 PM
SB 193
SB 118.PDF SL&C 4/7/2016 1:30:00 PM
SB 118
SB 118 - Sponsor Statement.pdf SL&C 4/7/2016 1:30:00 PM
SB 118
SB 118 - Fiscal Note - DNR.pdf SL&C 4/7/2016 1:30:00 PM
SB 118
SB 118 - Fiscal Note - DCCED.pdf SL&C 4/7/2016 1:30:00 PM
SB 118
HB 305.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Sponsor Statement.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Sectional Analysis.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Fiscal Note.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Leg. Legal Opinion.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Support Letter.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Supporting Documents - FAQs.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Supporting Documents - Licensing Title 8.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Supporting Documents - Yoga Alliance White Paper.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Supporting Documents - National Trends on State Regulation YTTS.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 305 - Supporting Documents - Yoga Alliance Industry Report.pdf SL&C 4/7/2016 1:30:00 PM
HB 305
HB 314.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Sponsor Statement.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Sectional Analysis.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Fiscal Note DCCED.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Supporting Documents-Letter SE Delegation 10-29-15.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Supporting Documents-Letter-Rick Roeske-KPEDD 03-14-16.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Supporting Documents-Letters of Support Compiled.pdf SL&C 4/7/2016 1:30:00 PM
HB 314
HB 314 - Supporting Documents-Report FY15 ARDOR Annual Report.pdf SL&C 4/7/2016 1:30:00 PM
HB 314