Legislature(2003 - 2004)

2003-05-12 Senate Journal

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2003-05-12                     Senate Journal                      Page 1340
HB 11                                                                                             
HOUSE BILL NO. 11 "An Act relating to deposits to the Alaska                                        
permanent fund from mineral lease rentals, royalties, royalty sale                                  
proceeds, net profit shares under AS 38.05.180(f) and (g), federal                                  
mineral revenue sharing payments received by the state from mineral                                 
leases, and bonuses received by the state from mineral leases, and                                  
limiting deposits from those sources to the 25 percent required under                               
art. IX, sec. 15, Constitution of the State of Alaska; and providing for                            
an effective date" was read the third time.                                                         
                                                                                                    
Senator Taylor moved and asked unanimous consent that the bill be                                   
returned to second reading for the purpose of a specific amendment,                                 
that being Amendment No. 1. Without objection, the bill was returned                                
to second reading.                                                                                  

2003-05-12                     Senate Journal                      Page 1341
Senator Taylor offered Amendment No. 1:                                                             
                                                                                                    
Page 2, following line 1:                                                                           
          Insert a new bill section to read:                                                        
   "* Sec. 2.  AS 37.05.550(b) is amended to read:                                                
  (b)  The legislature may appropriate to the fund money                                            
received by the state as Alaska marine highway system program                                       
receipts or from a settlement or final judicial determination of the                                
Dinkum Sands case (United States v. Alaska) and the North Slope                                     
royalty case (State v. Amerada Hess, et al.) and not deposited into the                             
Alaska permanent fund under AS 37.13.010(a)(1) or (2) or into the                               
public school trust fund under AS 37.14.150."                                                       
                                                                                                    
Renumber the following bill sections accordingly.                                                   
                                                                                                    
Page 2, line 20:                                                                                    
          Delete all material and insert:                                                           
   "* Sec. 4.  AS 37.13.010(a) is amended to read:                                                
 (a)  Under art. IX, sec. 15 of the state constitution, there is                                    
established as a separate fund the Alaska permanent fund.  The Alaska                               
permanent fund consists of                                                                          
  (1)  25 percent of all mineral lease rentals, royalties, royalty                                  
sale proceeds, net profit shares under AS 38.05.180(f) and (g), and [25                         
PERCENT OF] federal mineral revenue sharing payments received by                                    
the state from mineral leases issued on or before December 1, 1979,                             
and 25 percent of all bonuses received by the state from mineral leases                             
issued on or before February 15, 1980; [AND]                                                    
  (2)  50 percent of all mineral lease rentals, royalties,                                      
royalty sale proceeds, net profit shares under AS 38.05.180(f) and                              
(g), and federal mineral revenue sharing payments received by the                               
state from mineral leases issued after December 1, 1979, and 50                                 
percent of all bonuses received by the state from mineral leases                                
issued after February 15, 1980; and                                                             
  (3)  any other money appropriated to or otherwise allocated                                   
by law or former law to the Alaska permanent fund.                                                  
   * Sec. 5.  The uncodified law of the State of Alaska is amended by                             
adding a new section to read:                                                                       
          CONDITIONAL EFFECT OF SECTIONS 2 AND 4.  (a)                                              
Before October 1 of each year, the commissioner of revenue shall                                    
calculate the amount by which each permanent fund dividend is                                       

2003-05-12                     Senate Journal                      Page 1342
reduced as a result of the amendment to AS 37.13.010(a) in sec. 3 of                                
this Act when compared to what the amount of each dividend would                                    
have been for that year had the amendment to AS 37.13.010(a) in sec.                                
3 of this Act not taken effect.  If the amount of that reduction is equal                           
to or greater than $20, secs. 2 and 4 of this Act take effect.                                      
          (b)  The calculation under this section shall take into account                           
the change in deposits to the Alaska permanent fund that resulted from                              
the amendment to AS 37.13.010(a) in sec. 3 of this Act for the period                               
beginning on the effective date of that amendment through June 30 of                                
the year the calculation is being made.                                                             
   * Sec. 6.  Sections 1, 3, and 5 of this Act take effect immediately                            
under AS 01.10.070(c).                                                                              
   * Sec. 7.  If secs. 2 and 4 of this Act take effect under sec. 5 of this                       
Act, they take effect on October 1 of the year in which the                                         
commissioner of revenue determines that, as a result of the                                         
amendment to AS 37.13.010(a) in sec. 3 of this Act, the value of the                                
permanent fund dividend for that year has been reduced by at least                                  
$20.  The commissioner of revenue shall promptly notify the revisor of                              
statutes of the date secs. 2 and 4 of this Act take effect."                                        
                                                                                                    
Senator Taylor moved for the adoption of Amendment No. 1. Senator                                   
Elton objected.                                                                                     
                                                                                                    
The question being: "Shall Amendment No. 1 be adopted?" The roll                                    
was taken with the following result:                                                                
                                                                                                    
HB 11                                                                                               
Second Reading                                                                                      
Amendment No. 1                                                                                     
                                                                                                    
YEAS:  17   NAYS:  3   EXCUSED:  0   ABSENT:  0                                                   
                                                                                                    
Yeas:  Bunde, Cowdery, Davis, Dyson, Ellis, Green, Guess, Hoffman,                                  
Ogan, Olson, Seekins, Stevens B, Stevens G, Taylor, Therriault,                                     
Wagoner, Wilken                                                                                     
                                                                                                    
Nays:  Elton, French, Lincoln                                                                       
                                                                                                    
and so, Amendment No. 1 was adopted.                                                                
                                                                                                    
HOUSE BILL NO. 11 am S was automatically in third reading.                                          
                                                                                                    
                                                                                                    

2003-05-12                     Senate Journal                      Page 1343
The question being: "Shall HOUSE BILL NO. 11 am S "An Act                                           
relating to deposits to the Alaska permanent fund from mineral lease                                
rentals, royalties, royalty sale proceeds, net profit shares under AS                               
38.05.180(f) and (g), federal mineral revenue sharing payments                                      
received by the state from mineral leases, and bonuses received by the                              
state from mineral leases, and limiting deposits from those sources to                              
the 25 percent required under art. IX, sec. 15, Constitution of the State                           
of Alaska; and providing for an effective date" pass the Senate?" The                               
roll was taken with the following result:                                                           
                                                                                                    
HB 11 am S                                                                                          
Third Reading - Final Passage                                                                       
                                                                                                    
YEAS:  11   NAYS:  9   EXCUSED:  0   ABSENT:  0                                                   
                                                                                                    
Yeas:  Bunde, Cowdery, Dyson, Green, Seekins, Stevens B, Stevens                                    
G, Taylor, Therriault, Wagoner, Wilken                                                              
                                                                                                    
Nays:  Davis, Ellis, Elton, French, Guess, Hoffman, Lincoln, Ogan,                                  
Olson                                                                                               
                                                                                                    
and so, HOUSE BILL NO. 11 am S passed the Senate.                                                   
                                                                                                    
Senator Ben Stevens moved for the adoption of the effective date                                    
clause.                                                                                             
                                                                                                    
The question being: "Shall the effective date clause be adopted?" The                               
roll was taken with the following result:                                                           
                                                                                                    
HB 11 am S                                                                                          
Effective Date Clause                                                                               
                                                                                                    
YEAS:  12   NAYS:  8   EXCUSED:  0   ABSENT:  0                                                   
                                                                                                    
Yeas:  Bunde, Cowdery, Dyson, Green, Ogan, Seekins, Stevens B,                                      
Stevens G, Taylor, Therriault, Wagoner, Wilken                                                      
                                                                                                    
Nays:  Davis, Ellis, Elton, French, Guess, Hoffman, Lincoln, Olson                                  
                                                                                                    
and so, the effective date clause failed.                                                           
                                                                                                    
Senator Wagoner gave notice of reconsideration on HOUSE BILL                                        
NO. 11 AM S(efd fld S) "An Act relating to deposits to the Alaska                                   
permanent fund from mineral lease rentals, royalties, royalty sale                                  

2003-05-12                     Senate Journal                      Page 1344
proceeds, net profit shares under AS 38.05.180(f) and (g), federal                                  
mineral revenue sharing payments received by the state from mineral                                 
leases, and bonuses received by the state from mineral leases, and                                  
limiting deposits from those sources to the 25 percent required under                               
art. IX, sec. 15, Constitution of the State of Alaska."