Legislature(2013 - 2014)
2014-04-20 House Journal
Full Journal pdf2014-04-20 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.