2007-03-26                     House Journal                      Page 0551
HB 13                                                                                                                         
The State Affairs Committee considered:                                                                                         
                                                                                                                                
    HOUSE BILL NO. 13                                                                                                           
    "An Act relating to prepayments of accrued actuarial liabilities of                                                         
    government retirement systems; relating to the Alaska Municipal                                                             
    Bond Bank Authority; permitting the Alaska Municipal Bond                                                                   
    Bank Authority or a subsidiary of the authority to assist state and                                                         
    municipal governmental employers by issuing bonds, notes,                                                                   
    commercial paper, or other obligations to enable the governmental                                                           
    employers to prepay all or a portion of the governmental                                                                    
    employers' shares of the unfunded accrued actuarial liabilities of                                                          
    retirement systems; authorizing a governmental employer to issue                                                            
    obligations to prepay all or a portion of the governmental                                                                  
    employer's shares of the unfunded accrued actuarial liabilities of                                                          
    retirement systems and to enter into a lease or other contractual                                                           
    agreement with a trustee or the Alaska Municipal Bond Bank                                                                  
    Authority or a subsidiary of the authority in connection with the                                                           
    issuance of obligations for that purpose, and relating to those                                                             
    obligations; and providing for an effective date."                                                                          
                                                                                                                                
and recommends it be replaced with:                                                                                             
                                                                                                                                
    CS FOR HOUSE BILL NO. 13(W&M)                                                                                               
    "An Act relating to prepayments of accrued actuarial liabilities of                                                         

2007-03-26                     House Journal                      Page 0552
    government retirement systems; relating to the Alaska Municipal                                                             
    Bond Bank Authority, the Alaska Housing Finance Corporation,                                                                
    and the state bond committee; establishing the Alaska Pension                                                               
    Obligation Bond Corporation; permitting the Alaska Municipal                                                                
    Bond Bank Authority or a subsidiary of the authority, a subsidiary                                                          
    of the Alaska Housing Finance Corporation, the state bond                                                                   
    committee, and the Alaska Pension Obligation Bond Corporation                                                               
    to assist state and municipal governmental employers by issuing                                                             
    bonds, notes, commercial paper, or other obligations to enable the                                                          
    governmental employers to prepay all or a portion of the                                                                    
    governmental employers' shares of the unfunded accrued actuarial                                                            
    liabilities of retirement systems; authorizing a governmental                                                               
    employer to issue obligations to prepay all or a portion of the                                                             
    governmental employer's shares of the unfunded accrued actuarial                                                            
    liabilities of retirement systems and to enter into a lease or other                                                        
    contractual agreement with a trustee, the Alaska Municipal Bond                                                             
    Bank Authority or a subsidiary of the authority, a subsidiary of the                                                        
    Alaska Housing Finance Corporation, the state bond committee,                                                               
    or the Alaska Pension Obligation Bond Corporation in connection                                                             
    with the issuance of obligations for that purpose, and relating to                                                          
    those obligations; relating to revision of the employer contribution                                                        
    rate in connection with financed prepayment of unfunded accrued                                                             
    actuarial liabilities of government retirement systems; and                                                                 
    providing for an effective date."                                                                                           
                                                                                                                                
The report was signed by Representative Lynn, Chair, with the                                                                   
following individual recommendations:                                                                                           
                                                                                                                                
Do pass (3):  Johnson, Gruenberg, Lynn                                                                                          
                                                                                                                                
No recommendation (2):  Doll, Coghill                                                                                           
                                                                                                                                
The following fiscal note(s) apply to CSHB 13(W&M):                                                                             
                                                                                                                                
1.  Zero, Dept. of Revenue                                                                                                      
                                                                                                                                
HB 13 was referred to the Finance Committee.