Legislature(2005 - 2006)
2006-05-02 House Journal
Full Journal pdf2006-05-02 House Journal Page 3485 HB 381 The Finance Committee has considered: HOUSE BILL NO. 381 "An Act relating to the financing of construction, major maintenance, and renovation of facilities for the University of Alaska; relating to the financing of construction of a correctional facility; authorizing the commissioner of revenue to sell the right 2006-05-02 House Journal Page 3486 to receive a portion of the anticipated revenue from a tobacco litigation settlement to the Northern Tobacco Securitization Corporation, with the proceeds of that sale to finance construction, major maintenance, and renovation of facilities for the University of Alaska and to finance the construction of a correctional facility; providing for the establishment of funds for deposit of those proceeds; authorizing the issuance of bonds by the Northern Tobacco Securitization Corporation for the purpose of acquiring the right to receive a portion of anticipated revenue from a tobacco litigation settlement; and providing for an effective date." and recommends it be replaced with: CS FOR HOUSE BILL NO. 381(FIN) "An Act relating to the financing of construction, major maintenance, and renovation of certain capital projects; authorizing the commissioner of revenue to sell the right to receive a portion of the anticipated revenue from a tobacco litigation settlement to the Northern Tobacco Securitization Corporation, and relating to that sale and the use of the revenue; authorizing the Northern Tobacco Securitization Corporation to issue bonds and use the proceeds to acquire the right to receive a portion of anticipated revenue from a tobacco litigation settlement and for other purposes, and relating to those bonds; and providing for an effective date." The report was signed by Representatives Meyer and Chenault, Co- chairs, with the following individual recommendations: Do pass (6): Weyhrauch, Holm, Stoltze, Kelly, Meyer, Chenault No recommendation (3): Moses, Joule, Kerttula The following fiscal note(s) apply to CSHB 381(FIN): 1. Zero, Dept. of Administration HB 381 is on today's calendar.