Legislature(2021 - 2022)
2021-02-18 House Journal
Full Journal pdf2021-02-18 House Journal Page 0150 HB 92 HOUSE BILL NO. 92 by the House Rules Committee by request of the Governor, entitled: "An Act relating to borrowing in anticipation of revenues; relating to revenue anticipation notes; relating to line of credit agreements; and providing for an effective date." was read the first time and referred to the Finance Committee. The following fiscal note(s) apply: 1. Zero, Dept. of Revenue 2021-02-18 House Journal Page 0151 The Governor's transmittal letter dated February 4 follows: "Dear Chief Clerk: Under the authority of Article III, Section 18, of the Alaska Constitution, I am transmitting a bill relating to revenue anticipation borrowing (AS 43.08). The Alaska Constitution, Article IX, Section 10, authorizes interim borrowing in anticipation of the collection of revenues. This bill updates the statutes on revenue anticipation borrowing to grant the Commissioner of Revenue authority to enter into revenue anticipation notes and line of credit agreements when the Commissioner considers it in the State’s best financial interest to do so. The bill expands the State’s capacity to manage its short-term cash flow by increasing financial flexibility and leveraging modern borrowing tools. I urge your prompt and favorable action on this measure. Sincerely, /s/ Mike Dunleavy Governor"