1993-02-15                     House Journal                      Page 0347
HB 157                                                                       
HOUSE BILL NO. 157 by the House Rules Committee by request of                  
the Governor, entitled:                                                        
                                                                               
"An Act making a special appropriation to the Alaska public                   
schools and public facilities fund; and providing for an effective             
date."                                                                         
                                                                               
was read the first time and referred to the Health, Education & Social         
Services, Judiciary and Finance Committees.                                    
                                                                               
The Governor's transmittal letter, dated February 15, 1993, appears            
below:                                                                         
                                                                               
"Dear Speaker Barnes:                                                          
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution, I am     
transmitting a bill making a special appropriation in the sum of               
$630,000,000 from the general fund to the Alaska public schools and            
public facilities fund (AS37.15.011).  (In a companion bill that I am          
also transmitting, the existing Alaska debt retirement fund                    
(AS37.15.011) is renamed as the Alaska public schools and public               
facilities fund.)                                                              
                                                                               

1993-02-15                     House Journal                      Page 0348
HB 157                                                                       
The intent of this bill is to appropriate the amount equivalent to the         
$630,000,000 to be received by the state from the February 1993                
settlement agreement with British Petroleum for income tax, penalties,         
and interest arising under AS43.20 to the Alaska public schools and            
public facilities fund.  The intended uses of money in the fund are set        
out in AS37.15.011, which is repealed and reenacted in the                     
accompanying companion bill.                                                   
                                                                               
The bill has a contingent effective date, to correspond to the date that       
the settlement money is anticipated to be received by the state, but           
only if statutory changes to the fund (in the companion bill) are              
enacted into law to allow the fund to be more readily used for                 
appropriations for construction and maintenance of capital projects.           
                                                                               
I urge your support for this bill.                                             
                                                                               
          Sincerely,                                                           
          /s/                                                                  
          Walter J. Hickel                                                     
          Governor"