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HB 359: "An Act relating to election pamphlets; relating to information that must be provided for a bill under consideration by the legislature that authorizes the issuance of state general obligation bonds, to information that must be provided before the issuance of state general obligation bonds is submitted to the voters for ratification, and to the publication of a report relating to state bonded debt; and providing for an effective date."

00                             HOUSE BILL NO. 359                                                                          
01 "An Act relating to election pamphlets; relating to information that must be provided                                   
02 for a bill under consideration by the legislature that authorizes the issuance of state                                 
03 general obligation bonds, to information that must be provided before the issuance of                                   
04 state general obligation bonds is submitted to the voters for ratification, and to the                                  
05 publication of a report relating to state bonded debt; and providing for an effective                                   
06 date."                                                                                                                  
07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
08    * Section 1. AS 15.58.020 is amended to read:                                                                      
09            Sec. 15.58.020. Contents of pamphlet. (a) Each general election pamphlet                                   
10       must contain                                                                                                      
11                 (1)  photographs and campaign statements submitted by eligible                                          
12       candidates for elective office in the region;                                                                     
13                 (2)  information and recommendations filed under AS 15.58.050 on                                        
01       judicial officers subject to a retention election in the region;                                                  
02                 (3)  a map of the house district or districts of the region;                                            
03                 (4)  sample ballots for house districts of the region;                                                  
04                 (5)  an absentee ballot application;                                                                    
05                 (6)  for each ballot proposition submitted to the voters by initiative or                               
06       referendum petition or by the legislature,                                                                        
07                      (A)  the full text of the proposition specifying constitutional or                                 
08            statutory provisions proposed to be affected;                                                                
09                      (B)  the ballot title and the summary of the proposition prepared                                  
10            by the director or by the lieutenant governor;                                                               
11                      (C)  a statement of the costs to the state of implementing the law                                 
12            proposed in an initiative, or of voter approval or rejection of the act that is the                          
13            subject of a referendum;                                                                                     
14                      (D)  a neutral summary of the proposition prepared by the                                          
15            Legislative Affairs Agency;                                                                                  
16                      (E)  statements submitted that advocate voter approval or                                          
17            rejection of the proposition not to exceed 500 words;                                                        
18                 (7)  for each bond question, a statement of the scope of each project as                                
19       it appears in the bond authorization and the notice prepared under AS 37.15.015(a);                           
20                 (8)  a maximum of two pages of material submitted by each political                                     
21       party;                                                                                                            
22                 (9)  additional information on voting procedures that the lieutenant                                    
23       governor considers necessary;                                                                                     
24                 (10)  for the question whether a constitutional convention shall be                                     
25       called,                                                                                                           
26                      (A)  a full statement of the question placed on the ballot;                                        
27                      (B)  statements not to exceed 500 words that advocate voter                                        
28            approval or rejection of the question;                                                                       
29                 (11)  under AS 37.13.170, the Alaska permanent fund annual income                                       
30       statement and balance sheet for the two fiscal years preceding the publication of the                             
31       election pamphlet;                                                                                                
01                 (12)  under AS 15.10.090, notice of                                                                     
02                      (A)  the establishment or abolition of a precinct;                                                 
03                      (B)  the designation, abolition, or modification of precinct                                       
04            boundaries; and                                                                                              
05                      (C)  a change in the location of a polling place.                                                  
06            (b)  Each primary, special, or special runoff election pamphlet shall contain                                
07       only the information specified in (a)(6) and (a)(9) of this section for each ballot                               
08       measure and the information specified in (a)(7) of this section for each bond                                 
09       question scheduled to appear on the primary, special, or special runoff election ballot.                      
10    * Sec. 2. AS 24.08.037 is amended by adding a new subsection to read:                                              
11            (b)  In addition to the fiscal note requirements of AS 24.08.035 and the                                     
12       requirements of (a) of this section, before a bill authorizing the issuance of state                              
13       general obligation bonds is referred to the rules committee, there shall be attached to                           
14       the bill a statement with the following information:                                                              
15                 (1)  the current general obligation and other bonded indebtedness of the                                
16       state and the effect of the proposed bonding on that indebtedness;                                                
17                 (2)  the average cost of the annual debt service on the current general                                 
18       obligation bonded indebtedness and the effect of the proposed bonding on the average                              
19       cost of the annual debt service;                                                                                  
20                 (3)  the amount of state general obligation debt principal that could be                                
21       issued and paid for from the Alaska debt retirement fund (AS 37.15.011);                                          
22                 (4)  the estimated debt service requirements for the bond issue proposed                                
23       under the bill;                                                                                                   
24                 (5)  whether the bond issue proposed under the bill will be repaid with                                 
25       amounts from the Alaska debt retirement fund (AS 37.15.011).                                                      
26    * Sec. 3. AS 37.07.045 is amended by adding a new subsection to read:                                              
27            (b)  The Department of Revenue shall publish, and make available to the                                      
28       public, the report prepared under (a) of this section on the department's Internet                                
29       website.                                                                                                          
30    * Sec. 4. AS 37.13.170 is amended to read:                                                                         
31            Sec. 37.13.170. Reports and publications. By September 30 of each year, the                                
01       board shall publish a report of the fund for distribution to the governor and the public.                         
02       The board shall notify the legislature that the report is available. The report shall be                          
03       written in easily understandable language. The report must include financial                                      
04       statements audited by independent outside auditors, a statement of the amount of                                  
05       money received by the fund from each investment during the period covered, a                                      
06       statement of investments of the fund including an appraisal at market value, a                                    
07       description of fund investment activity during the period covered by the report, a                                
08       comparison of the fund performance with the intended goals contained in                                           
09       AS 37.13.020, an examination of the effect of the investment criteria of this chapter on                          
10       the fund portfolio with recommendations of any needed changes, and any other                                      
11       information the board believes would be of interest to the governor, the legislature,                             
12       and the public. The annual income statement and balance sheet of the fund shall be                                
13       published in at least one newspaper in each judicial district. The income statement and                           
14       balance sheet for the two fiscal years preceding the publication of the general election                      
15       pamphlet under AS 15.58 shall be included in that pamphlet.                                                       
16    * Sec. 5. AS 37.15.015(a) is amended to read:                                                                      
17            (a)  Before an election in which a general obligation bond issue is offered                              
18       for ratification, the state bond committee shall prepare a notice for inclusion in                            
19       the election pamphlet. Before an [A GENERAL OR SPECIAL] election in which a                               
20       bond issue is offered for ratification, the state bond committee shall publish a notice                           
21       [OF EXISTING STATE BONDED INDEBTEDNESS] at least once a week for three                                            
22       consecutive weeks in a newspaper of general circulation in each of the four judicial                              
23       districts of the state. The first notice shall be published at least 20 days before the date                      
24       of the election. The notice shall also be included on the state Internet website as                           
25       soon as it is prepared by the state bond committee. A notice prepared under this                          
26       subsection must contain                                                                                       
27                 (1)  the current general obligation [TOTAL] bonded indebtedness of                                  
28       the state and the effect of the proposed bonding on that indebtedness;                                        
29                 (2)  the average cost of the annual debt service on the current general                     
30       obligation bonded indebtedness and the effect of the proposed bonding on the                              
31       average cost of the annual debt service;                                                                      
01                 (3)  the [PROJECTED] amount of state general obligation debt                                            
02       principal that could be issued and paid for from the Alaska debt retirement fund                                  
03       (AS 37.15.011);                                                                                               
04                 (4)  the estimated debt service requirements for the bond issue offered                                 
05       for ratification; [AND]                                                                                           
06                 (5)  whether the bond issue offered for ratification will be repaid with                                
07       amounts from the Alaska debt retirement fund (AS 37.15.011);                                                  
08                 (6)  a brief description of each capital project, its location, and, in                             
09       dollars, that portion of the total bond issue offered for ratification to be allocated                        
10       to the project; and                                                                                           
11                 (7)  a brief description of the report relating to the state's bonded                               
12       debt prepared by the Department of Revenue under AS 37.07.045 and the                                         
13       Internet address where the full report is available to the public under                                       
14       AS 37.07.045(b).                                                                                              
15    * Sec. 6. This Act takes effect January 1, 2015.