2003-02-19                     House Journal                      Page 0251
HB 112                                                                                            
HOUSE BILL NO. 112 by the House Rules Committee by request of                                       
the Governor, entitled:                                                                             
                                                                                                    
     "An Act relating to the authority of the Alaska Industrial                                     
     Development and Export Authority to issue bonds; and providing                                 
     for an effective date."                                                                        
                                                                                                    
was read the first time and referred to the Finance Committee.                                      
                                                                                                    
The following fiscal note(s) apply:                                                                 
                                                                                                    
1.  Zero, Dept. of Community & Economic Development                                                 
                                                                                                    
The Governor's transmittal letter dated February 18, 2003, follows:                                 
                                                                                                    
"Dear Speaker Kott:                                                                                 
                                                                                                    
Under the authority of art. III, sec. 18, of the Alaska Constitution, I am                          
transmitting a bill that would extend the sunset on the Alaska                                      
Industrial Development and Export Authority's (Authority) bonding                                   
authorization until July 1, 2007.                                                                   
                                                                                                    
The bill would extend the Authority's bonding authorization for                                     
development projects of $10,000,000 or less.  The Authority's general                               
bonding authorization will expire June  30, 2003, unless extended.                                  

2003-02-19                     House Journal                      Page 0252
Allowing that authorization to expire would severely restrict the                                   
Authority's ability to assist in key development projects.                                          
                                                                                                    
In a time of dwindling state resources, this bill would further the                                 
Authority's mission to forge public-private partnerships that can                                   
strengthen the state's economic base.                                                               
                                                                                                    
I urge your prompt and favorable action on this measure.                                            
                                                                                                    
                                 Sincerely,                                                        
                                /s/                                                                 
                                Frank H. Murkowski                                                  
                                 Governor"