CSHB 90(FIN): "An Act relating to bonding limitations and confidentiality of records and information of the Alaska Industrial Development and Export Authority; relating to municipal taxation of interests in certain property of the Alaska Industrial Development and Export Authority; providing for an effective date by amending the effective date of sec. 3, ch. 117, SLA 2000, as amended by sec. 2, ch. 74, SLA 2003, and by sec. 3, ch. 67, SLA 2008; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 90(FIN) 01 "An Act relating to bonding limitations and confidentiality of records and information 02 of the Alaska Industrial Development and Export Authority; relating to municipal 03 taxation of interests in certain property of the Alaska Industrial Development and 04 Export Authority; providing for an effective date by amending the effective date of sec. 05 3, ch. 117, SLA 2000, as amended by sec. 2, ch. 74, SLA 2003, and by sec. 3, ch. 67, SLA 06 2008; and providing for an effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. AS 44.88.095(a) is amended to read: 09 (a) The authority may not issue bonds in a 12-month period in an amount that 10 exceeds $400,000,000, excluding refunding bonds. 11 * Sec. 2. AS 44.88.095(g) is amended to read: 12 (g) The [BEFORE JULY 1, 2007, THE] authority may issue bonds in an 13 amount greater than $10,000,000 to assist in the financing of a development project
01 under AS 44.88.172 - 44.88.177 only if approved by law, excluding refunding 02 bonds. Refunding bonds may be issued without further approval by law in a 03 principal amount sufficient to provide funds for the payment of all bonds to be 04 refunded by them and, in addition, for the payment of all other amounts that the 05 authority considers appropriate in connection with the refunding, including 06 expenses incident to the redeeming, calling, retiring, or paying of the outstanding 07 bonds, the funding of reserves, and the issuance of the refunding bonds [WITH 08 LEGISLATIVE APPROVAL. BEGINNING JULY 1, 2007, AND THEREAFTER, 09 WITHOUT PRIOR LEGISLATIVE APPROVAL, THE AUTHORITY MAY NOT 10 ISSUE BONDS, EXCEPT REFUNDING AND CONDUIT REVENUE BONDS]. 11 * Sec. 3. AS 44.88.215(a) is amended to read: 12 (a) In order to promote the purposes of this chapter [AS 44.88], unless the 13 records or information were a matter of public record before submittal to the 14 authority, the following records [, FILES,] and information shall be kept confidential 15 if [UPON THE REQUEST OF] the person supplying the records or information or 16 [UPON THE REQUEST OF] the project, bond, loan, or guarantee applicant or 17 borrower requests confidentiality and makes an adequate showing to the executive 18 director of the authority that the records or information are [:] 19 (1) income tax returns; 20 (2) financial statements, profit-and-loss statements, and cash flow 21 projections, except the information required by the authority to calculate debt service 22 coverage on the loan; 23 (3) financial business plans; 24 (4) credit reports from consumer reporting agencies and other credit 25 information obtained from banks, creditors, or other credit reporting entities; 26 (5) trade secrets, including confidential proprietary information 27 and confidential information about products, pricing, or manufacturing or 28 business processes; 29 (6) appraisals, except the name of the appraiser, the date of the 30 appraisal, and the fair market value determined for the property appraised; 31 (7) market surveys and marketing strategy information; or [AND]
01 (8) any information required to be kept confidential by a federal law or 02 regulation or by state law. 03 * Sec. 4. AS 44.88.215(c) is amended to read: 04 (c) The records and information that the executive director of the authority 05 determines [IS DETERMINED] to be confidential under (a) or (b) of this section are 06 [IS] not [A] public records [RECORD] under AS 40.25.110 - 40.25.220. 07 * Sec. 5. AS 44.88.900 is amended by adding a new paragraph to read: 08 (14) "trade secret" has the meaning given in AS 45.50.940. 09 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to 10 read: 11 REVISOR'S INSTRUCTION. The revisor of statutes shall change the heading of 12 AS 44.88.215 from "Confidentiality of information" to "Confidentiality of records and 13 information." 14 * Sec. 7. Section 19, ch. 117, SLA 2000, as amended by sec. 2, ch. 74, SLA 2003, and by 15 sec. 3, ch. 67, SLA 2008, is amended to read: 16 Sec. 19. Section 3 of this Act takes effect November 30, 2012 . 17 * Sec. 8. This Act takes effect July 1, 2009.