Legislature(2017 - 2018)

2018-03-15 House Journal

Full Journal pdf

2018-03-15                     House Journal                      Page 2717
HB 213                                                                                                                        
The following, which was held from the March 14 calendar (page                                                                  
2704), was read the third time:                                                                                                 
                                                                                                                                
    CS FOR HOUSE BILL NO. 213(FIN)                                                                                              
    "An Act relating to the investment, appropriation, and                                                                      
    administration of the public school trust fund; and providing for                                                           
    an effective date."                                                                                                         
                                                                                                                                
Representative Parish moved and asked unanimous consent that CSHB                                                               
213(FIN) be returned to second reading for the specific purpose of                                                              
considering Amendment No. 2.  There being no objection, it was so                                                               
ordered.                                                                                                                        
                                                                                                                                
Amendment No. 2 was offered by Representative Parish:                                                                           
                                                                                                                                
Page 2, following line 6:                                                                                                       
    Insert a new bill section to read:                                                                                          
"* Sec. 2. AS 37.14.110(c) is amended to read:                                                                                
         (c)  [THE COMMISSIONER OF REVENUE SHALL                                                                                
    DETERMINE THE NET INCOME OF THE FUND IN                                                                                     
    ACCORDANCE WITH INVESTMENT ACCOUNTING                                                                                       
    PRINCIPLES AND IN A MANNER THAT PRESERVES THE                                                                               
    DISTINCTION BETWEEN PRINCIPAL AND INCOME AND                                                                                
    THAT EXCLUDES CAPITAL GAINS OR LOSSES REALIZED                                                                              
    ON PRINCIPAL]. The principal of the fund [AND THE                                                                           
    CAPITAL GAINS OR LOSSES REALIZED ON PRINCIPAL]                                                                              
    shall be perpetually retained in the fund for investment purposes."                                                         
                                                                                                                                

2018-03-15                     House Journal                      Page 2718
Renumber the following bill sections accordingly.                                                                               
                                                                                                                                
Page 2, line 22:                                                                                                                
    Delete "Each"                                                                                                               
    Insert "Subject to AS 37.14.110(c), each"                                                                                   
                                                                                                                                
Page 3, line 9:                                                                                                                 
    Delete all material and insert:                                                                                             
   "* Sec. 6. AS 37.14.140 is repealed."                                                                                      
                                                                                                                                
Representative Parish moved and asked unanimous consent that                                                                    
Amendment No. 2 be adopted.                                                                                                     
                                                                                                                                
Representative Wilson objected.                                                                                                 
                                                                                                                                
Representative Parish moved and asked unanimous consent to                                                                      
withdraw Amendment No. 2.  There being no objection, it was so                                                                  
ordered.                                                                                                                        
                                                                                                                                
CSHB 213(FIN) was automatically in third reading.                                                                               
                                                                                                                                
The question being:  "Shall CSHB 213(FIN) pass the House?"  The                                                                 
roll was taken with the following result:                                                                                       
                                                                                                                                
CSHB 213(FIN)                                                                                                                   
Third Reading                                                                                                                   
Final Passage                                                                                                                   
                                                                                                                                
YEAS:  21   NAYS:  16   EXCUSED:  3   ABSENT:  0                                                                              
                                                                                                                                
Yeas:  Claman, Drummond, Edgmon, Foster, Gara, Grenn,                                                                           
Guttenberg, Josephson, Kawasaki, Kreiss-Tomkins, LeDoux, Lincoln,                                                               
Ortiz, Parish, Seaton, Spohnholz, Stutes, Tarr, Tuck, Wool, Zulkosky                                                            
                                                                                                                                
Nays:  Birch, Eastman, Johnson, Johnston, Kito, Knopp, Kopp,                                                                    
Neuman, Pruitt, Rauscher, Reinbold, Saddler, Sullivan-Leonard,                                                                  
Thompson, Tilton, Wilson                                                                                                        
                                                                                                                                
Excused:  Chenault, Millett, Talerico                                                                                           
                                                                                                                                
And so, CSHB 213(FIN) passed the House.                                                                                         
                                                                                                                                
Representative Tuck moved the effective date clause.                                                                            
                                                                                                                                

2018-03-15                     House Journal                      Page 2719
The question being:  "Shall the effective date clause be adopted?"  The                                                         
roll was taken with the following result:                                                                                       
                                                                                                                                
CSHB 213(FIN)                                                                                                                   
Third Reading                                                                                                                   
Effective Date                                                                                                                  
                                                                                                                                
YEAS:  28   NAYS:  9   EXCUSED:  3   ABSENT:  0                                                                               
                                                                                                                                
Yeas:  Birch, Claman, Drummond, Edgmon, Foster, Gara, Grenn,                                                                    
Guttenberg, Johnston, Josephson, Kawasaki, Kito, Knopp, Kopp,                                                                   
Kreiss-Tomkins, LeDoux, Lincoln, Ortiz, Parish, Pruitt, Seaton,                                                                 
Spohnholz, Stutes, Tarr, Thompson, Tuck, Wool, Zulkosky                                                                         
                                                                                                                                
Nays:  Eastman, Johnson, Neuman, Rauscher, Reinbold, Saddler,                                                                   
Sullivan-Leonard, Tilton, Wilson                                                                                                
                                                                                                                                
Excused:  Chenault, Millett, Talerico                                                                                           
                                                                                                                                
And so, the effective date clause was adopted.                                                                                  
                                                                                                                                
Representative Wilson gave notice of reconsideration of the vote on                                                             
CSHB 213(FIN).