Legislature(2017 - 2018)
2018-02-09 Senate Journal
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Full Journal pdf2018-02-09 Senate Journal Page 1965 Introduction and Reference of Senate Bills SB 178 SENATE BILL NO. 178 BY THE SENATE RULES COMMITTEE BY REQUEST OF THE GOVERNOR, entitled: "An Act repealing the Alaska BIDCO Assistance program and repealing requirements for an annual examination of a BIDCO by the Department of Commerce, Community, and Economic Development." was read the first time and referred to the Labor and Commerce and Finance Committees. The following fiscal information was published today: Fiscal Note No. 1, zero, Department of Commerce, Community and Economic Development Governor's transmittal letter dated February 8: Dear President Kelly: Under the authority of Article III, Section 18, of the Alaska Constitution, I am transmitting a bill that would repeal the BIDCO loan assistance program. A "BIDC" is a person licensed by the Department of Commerce, Community, and Economic Development to provide financial and management assistance to businesses. Under current law, the Department is required to examine a BIDCO annually and the cost for these examinations borne by the BIDCO. This bill would remove the requirement for an annual examination of a BIDCO, but continue to allow the Department to examine a BIDCO at any time. Repealing the annual schedule while leaving in place the ability to conduct these examinations when necessary to protect the public while removing unnecessary, burdensome, and costly requirements.