Legislature(2013 - 2014)

2014-04-20 House Journal

Full Journal pdf

2014-04-20                     House Journal                      Page 2714
SB 140                                                                                                                        
The following, which was moved to the bottom of today's second                                                                  
supplemental calendar (page 2709), was read the second time:                                                                    
                                                                                                                                
      CS FOR SENATE BILL NO. 140(FIN)                                                                                           
      "An Act creating the Arctic infrastructure development program                                                            
      and fund in the Alaska Industrial Development and Export                                                                  
      Authority; and relating to dividends from the Alaska Industrial                                                           
      Development and Export Authority."                                                                                        
                                                                                                                                
with the:                                                                           Journal Page                                
                                                                                                                                
 L&C RPT 3DP 3NR                                                                                2449                            
 FN1: (CED)                                                                                     2450                            

2014-04-20                     House Journal                      Page 2715
                                                                                                                                
 FIN RPT HCS(FIN) 10DP 1NR                                                                      2654                            
 FN1: (CED)                                                                                     2655                            
                                                                                                                                
Representative Pruitt moved and asked unanimous consent that the                                                                
following committee substitute be adopted in lieu of the original bill:                                                         
                                                                                                                                
      HOUSE CS FOR CS FOR SENATE BILL NO. 140(FIN)                                                                              
      (same title)                                                                                                              
                                                                                                                                
There being no objection, it was so ordered.                                                                                    
                                                                                                                                
                                                                                                                                
Amendment No. 1 was offered by Representatives Herron, Foster,                                                                  
Nageak, Edgmon, and Guttenberg:                                                                                                 
                                                                                                                                
Page 1, line 2, following "Authority;" (title amendment):                                                                     
 Delete "and"                                                                                                                 
                                                                                                                                
Page 1, line 3, following "Authority" (title amendment):                                                                      
 Insert "; and authorizing the Alaska Industrial Development                                                                  
and Export Authority to issue bonds to finance the infrastructure                                                             
and construction costs of the Arctic Fibre and Quintillion                                                                    
Networks fiber optics project"                                                                                                
                                                                                                                                
Page 4, following line 4:                                                                                                       
 Insert a new bill section to read:                                                                                             
   "*Sec. 7.  LEGISLATIVE APPROVAL; ARCTIC FIBRE AND                                                                          
QUINTILLION NETWORKS FIBER OPTICS PROJECT. (a) The                                                                              
Alaska Industrial Development and Export Authority may issue bonds                                                              
to finance the infrastructure and construction costs of the Arctic Fibre                                                        
and Quintillion Networks fiber optics project. The cable and                                                                    
associated equipment of the Arctic Fibre and Quintillion Networks                                                               
fiber optics project shall be owned and operated by the authority or                                                            
financed under AS 44.88.172. The principal amount of the bonds                                                                  
provided by the Alaska Industrial Development and Export Authority                                                              
for the Arctic Fibre and Quintillion Networks fiber optics project may                                                          
not exceed the lesser of $50,000,000 or 10 percent of the total project                                                         
finance package as determined through the Alaska Industrial                                                                     
Development and Export Authority's due diligence process, and may                                                               
include the costs of issuing bonds the Alaska Industrial Development                                                            
and Export Authority considers reasonable and appropriate.                                                                      

2014-04-20                     House Journal                      Page 2716
                                                                                                                                
 (b) This section constitutes legislative approval required by                                                                  
AS 44.88.095(g)."                                                                                                               
                                                                                                                                
Representative Herron moved and asked unanimous consent that                                                                    
Amendment No. 1 be adopted.                                                                                                     
                                                                                                                                
Objection was heard and withdrawn.                                                                                              
                                                                                                                                
Representatives Kito III and Holmes moved and asked unanimous                                                                   
consent that they be allowed to abstain from voting because of a                                                                
conflict of interest.  Objection was heard, and the members were                                                                
required to vote.                                                                                                               
                                                                                                                                
There being no further objection, Amendment No. 1 was adopted, and                                                              
the new title follows:                                                                                                          
                                                                                                                                
                          HOUSE CS FOR CS FOR SENATE BILL NO. 140(FIN) am H                                                    
      "An Act creating the Arctic infrastructure development program                                                            
      and fund in the Alaska Industrial Development and Export                                                                  
      Authority; and relating to dividends from the Alaska Industrial                                                           
      Development and Export Authority; and authorizing the Alaska                                                              
      Industrial Development and Export Authority to issue bonds to                                                             
      finance the infrastructure and construction costs of the Arctic                                                           
      Fibre and Quintillion Networks fiber optics project."                                                                     
                                                                                                                                
                                                                                                                                
Amendment No. 2 was offered by Representative Herron:                                                                           
                                                                                                                                
Page 7, following line 26:                                                                                                      
      Insert a new subsection to read:                                                                                          
            "(d) The authority may guarantee a loan under AS 44.88.830                                                          
      if the loan is made to a business with a majority interest held by                                                        
      state residents."                                                                                                         
                                                                                                                                
Page 8, lines 9 - 11:                                                                                                           
      Delete all material and insert:                                                                                           
                         "(B)  the purchase, construction, improvement,                                                         
            rehabilitation, or expansion of a shore-based plant, facility,                                                      
            equipment, or assets used in support of a fishery in the                                                            
            Arctic."                                                                                                            
                                                                                                                                

2014-04-20                     House Journal                      Page 2717
                                                                                                                                
Representative Herron moved and asked unanimous consent that                                                                    
Amendment No. 2 be adopted.                                                                                                     
                                                                                                                                
Objection was heard and withdrawn.  There being no further objection,                                                           
Amendment No. 2 was adopted.                                                                                                    
                                                                                                                                
Representative Pruitt moved and asked unanimous consent that HCS                                                                
CSSB 140(FIN) am H be considered engrossed, advanced to third                                                                   
reading, and placed on final passage.  There being no objection, it was                                                         
so ordered.                                                                                                                     
                                                                                                                                
HCS CSSB 140(FIN) am H was read the third time.                                                                                 
                                                                                                                                
The question being:  "Shall HCS CSSB 140(FIN) am H pass the                                                                     
House?"  The roll was taken with the following result:                                                                          
                                                                                                                                
HCS CSSB 140(FIN) am H                                                                                                          
Third Reading                                                                                                                   
Final Passage                                                                                                                   
                                                                                                                                
YEAS:  39   NAYS:  0   EXCUSED:  0   ABSENT:  1                                                                               
                                                                                                                                
Yeas:  Austerman, Chenault, Costello, Drummond, Edgmon, Feige,                                                                  
Foster, Gara, Gattis, Gruenberg, Guttenberg, Hawker, Herron,                                                                    
Higgins, Holmes, Hughes, Isaacson, Johnson, Josephson, Kawasaki,                                                                
Keller, Kito III, Kreiss-Tomkins, LeDoux, Lynn, Millett, Munoz,                                                                 
Nageak, Neuman, Olson, Pruitt, Reinbold, Saddler, Seaton, Tarr,                                                                 
Thompson, Tuck, P.Wilson, T.Wilson                                                                                              
                                                                                                                                
Absent:  Stoltze                                                                                                                
                                                                                                                                
And so, HCS CSSB 140(FIN) am H passed the House.                                                                                
                                                                                                                                
Engrossment of HCS CSSB 140(FIN) am H was waived (page 2673).                                                                   
It was signed by the Speaker and Chief Clerk.