2008-01-17                     House Journal                      Page 1736
HB 325                                                                                                                        
HOUSE BILL NO. 325 by the House Rules Committee by request of                                                                   
the Governor, entitled:                                                                                                         
                                                                                                                                
     "An Act relating to the teachers' and nurses' housing loan program                                                         
     in the Alaska Housing Finance Corporation; and providing for an                                                            
     effective date."                                                                                                           
                                                                                                                                
was read the first time and referred to the Health, Education & Social                                                          
Services and Finance Committees.                                                                                                
                                                                                                                                
The following fiscal note(s) apply:                                                                                             
                                                                                                                                
1.  Zero, Dept. of Revenue                                                                                                      
                                                                                                                                
The Governor's transmittal letter dated January 15, 2008, follows:                                                              
                                                                                                                                
"Dear Speaker Harris:                                                                                                           
                                                                                                                                
Under the authority of art. III, sec. 18, of the Alaska Constitution, I am                                                      
transmitting a bill that would expand the teachers' and nurses' housing                                                         
loan program established within the Alaska Housing Finance                                                                      
Corporation.  This bill expands the program to allow licensed or                                                                
certified health care professionals, including registered nurses, in the                                                        
state to take advantage of the housing loan program.  This loan                                                                 
program is a crucial component in Alaska school districts' and                                                                  
communities' ability to recruit and retain qualified public school                                                              
teachers, counselors, school administrators, and health care                                                                    
professionals.                                                                                                                  
                                                                                                                                
In 2003 Senate Bill 25 was signed into law establishing the loan                                                                
program.   Under this program, a qualified applicant is allowed to                                                              
purchase an owner-occupied home, without paying a conventional                                                                  
down payment.  As of October 31, 2007, 373 loans in 34 Alaska                                                                   
communities have been made to teachers and registered nurses,                                                                   
comprising over 72 million dollars in loans.                                                                                    
                                                                                                                                
This bill would make two significant changes to the existing program.                                                           
First, the original legislation contained a five-year sunset provision                                                          
that would repeal the program on July 1, 2008.  This bill would repeal                                                          

2008-01-17                     House Journal                      Page 1737
the sunset provision and would make the program permanent within                                                                
the Alaska Housing Finance Corporation.  Second, this bill would                                                                
expand the program to allow qualified licensed or certified health care                                                         
professionals, including registered nurses, in the state to take                                                                
advantage of the housing loans.  There is a serious shortage of health                                                          
care professionals in Alaska.  With this change, I hope to use this                                                             
housing loan program to help reduce this shortage.  I am committed to                                                           
improving access to health care services and I believe expanding the                                                            
housing loan program will help accomplish this goal.                                                                            
                                                                                                                                
I urge your prompt and favorable action on this measure.                                                                        
                                                                                                                                
                                Sincerely,                                                                                     
                                /s/                                                                                             
                                Sarah Palin                                                                                    
                                 Governor"