Legislature(2003 - 2004)

2003-05-12 Senate Journal

Full Journal pdf

2003-05-12                     Senate Journal                      Page 1345
HB 203                                                                                            
HOUSE BILL NO. 203 "An Act relating to the definitions of 'net                                      
income' and 'unrestricted net income' for purposes of calculating the                               
dividends to be paid to the state by the Alaska Industrial Development                              
and Export Authority; and providing for an effective date" was read                                 
the third time.                                                                                     

2003-05-12                     Senate Journal                      Page 1346
Senator French 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.                                                                                  
                                                                                                    
Senator French  offered Amendment No. 1:                                                            
                                                                                                    
Page 1, line 3, following "Authority;":                                                           
 Insert "relating to appropriations of the dividends to the                                       
Alaska Science and Technology Foundation;"                                                        
                                                                                                    
Page 1, following line 4:                                                                           
 Insert a new bill section to read:                                                                 
   "* Section 1.  AS 44.88.088(a) is amended to read:                                             
  (a)  The authority shall adopt a policy for payment of a                                          
dividend to the state each fiscal year.  The amount of the dividend for                             
a fiscal year may not be less than 25 percent nor more than 50 percent                              
of the net income of the authority for the base fiscal year. In no event,                           
however, shall the dividend for a fiscal year exceed the total                                      
unrestricted net income of the authority for the base fiscal year.  The                             
dividend for a fiscal year shall be made available by the authority                                 
before the end of that fiscal year.  The authority shall notify the                                 
commissioner of revenue when the dividend for a fiscal year is                                      
available for appropriation.  Each fiscal year, an amount equal to                              
$5,000,000 or 25 percent of the dividend, whichever is greater,                                 
may be appropriated to the Alaska Science and Technology                                        
Foundation for payment as grants under AS 37.17.010 - 37.17.110                                 
and AS 37.17.225."                                                                              
                                                                                                    
Page 1, line 5:                                                                                     
 Delete "Section 1."                                                                              
 Insert "Sec. 2."                                                                                 
                                                                                                    
Renumber the following bill sections accordingly.                                                   
                                                                                                    
Page 2, line 4:                                                                                     
 Delete "secs. 1 and 2"                                                                             
 Insert "secs. 2 and 3"                                                                             
                                                                                                    
Senator French moved for the adoption of Amendment No. 1. Senator                                   
Green objected.                                                                                     

2003-05-12                     Senate Journal                      Page 1347
The question being: "Shall Amendment No. 1 be adopted?" The roll                                    
was taken with the following result:                                                                
                                                                                                    
HB 203                                                                                              
Second Reading                                                                                      
Amendment No. 1                                                                                     
                                                                                                    
YEAS:  8   NAYS:  12   EXCUSED:  0   ABSENT:  0                                                   
                                                                                                    
Yeas:  Davis, Ellis, Elton, French, Guess, Hoffman, Lincoln, Olson                                  
                                                                                                    
Nays:  Bunde, Cowdery, Dyson, Green, Ogan, Seekins, Stevens B,                                      
Stevens G, Taylor, Therriault, Wagoner, Wilken                                                      
                                                                                                    
and so, Amendment No. 1 failed.                                                                     
                                                                                                    
HOUSE BILL NO. 203 was automatically in third reading.                                              
                                                                                                    
The question being: "Shall HOUSE BILL NO. 203 "An Act relating to                                   
the definitions of 'net income' and 'unrestricted net income' for                                   
purposes of calculating the dividends to be paid to the state by the                                
Alaska Industrial Development and Export Authority; and providing                                   
for an effective date" pass the Senate?" The roll was taken with the                                
following result:                                                                                   
                                                                                                    
HB 203                                                                                              
Third Reading - Final Passage                                                                       
Effective Date                                                                                      
                                                                                                    
YEAS:  20   NAYS:  0   EXCUSED:  0   ABSENT:  0                                                   
                                                                                                    
Yeas:  Bunde, Cowdery, Davis, Dyson, Ellis, Elton, French, Green,                                   
Guess, Hoffman, Lincoln, Ogan, Olson, Seekins, Stevens B, Stevens                                   
G, Taylor, Therriault, Wagoner, Wilken                                                              
                                                                                                    
and so, HOUSE BILL NO. 203 passed the Senate.                                                       
                                                                                                    
Senator Ben Stevens moved and asked unanimous consent that the                                      
vote on the passage of the bill be considered the vote on the effective                             
date clause. Without objection, it was so ordered.                                                  
                                                                                                    
Senator Ellis gave notice of reconsideration.