00HOUSE BILL NO. 533                                                                                                      
01 "An Act relating to the board of directors of the Alaska Aerospace Development                                          
02 Corporation."                                                                                                           
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 14.40.826(a) is amended to read:                                                                    
05  (a)  The board of directors of the corporation consists of nine members                                               
06 appointed by the governor as follows:                                                                                   
07   (1)  the executive director of the Alaska Industrial Development and                                                
08 Export Authority or the director's designee [ONE MEMBER OF THE BOARD OF                                                
09 REGENTS OF THE UNIVERSITY OF ALASKA];                                                                                   
10   (2)  the president or the designee of the president of the University of                                             
11 Alaska;                                                                                                                 
12   (3)  two members who are state residents who have experience in                                                     
13 and understanding of economic development from a business perspective based                                             
14 on their previous participation in private enterprise either as employees or as                                         

01 employers; one person appointed under this paragraph shall have special                                                 
02 expertise in marketing analysis and development, and the other person shall have                                        
03 special expertise in business development [THE DIRECTOR OF THE                                                         
04 GEOPHYSICAL INSTITUTE OF THE UNIVERSITY OF ALASKA];                                                                     
05   (4)  the executive director of the Alaska Science and Technology                                                     
06 Foundation;                                                                                                             
07   (5)  the commissioner of commerce and economic development or the                                                    
08 commissioner's designee;                                                                                                
09   (6)  two members who have experience and understanding of the                                                        
10 aerospace or commercial space industry, one of whom shall have a special emphasis                                       
11 in federal regulatory procedures and policy involving space; and                                                      
12   (7)  [ONE FACULTY MEMBER OF THE UNIVERSITY OF ALASKA                                                                 
13 WITH RESEARCH INTERESTS INVOLVING ROCKETS OR SATELLITES;                                                                
14   (8)]  a public member.                                                                                               
15    * Sec. 2.  AS 14.40.826(b) is amended to read:                                                                       
16  (b)  The members of the board of directors of the corporation described in                                            
17 (a)(6) of this section may be nonresidents of the state.  The term of the members                                       
18 described in (a)(3), (6), and (7) [(a)(1), (6), (7), AND (8)] of this section is four years                           
19 and those terms shall be staggered.                                                                                     
20    * Sec. 3.  AS 14.40.826(c) is amended to read:                                                                       
21  (c)  Members of the board of directors of the corporation described in (a)(3),                                       
22 (6), and (7) [(a)(6) AND (8)] of this section receive $100 compensation for each day                                   
23 spent on official business of the corporation.                                                                          
24    * Sec. 4.  TRANSITIONAL PROVISION.  Notwithstanding AS 14.40.826, as amended by                                      
25 this Act, persons serving on the board of directors of the Alaska Aerospace Development                                 
26 Corporation on the day before the effective date of this Act may continue to serve on the                               
27 board until their current terms expire or until they are replaced by the governor under this Act,                       
28 whichever is earlier.