Legislature(2017 - 2018)CAPITOL 17
02/14/2017 10:15 AM House ENERGY
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| Audio | Topic |
|---|---|
| Start | |
| HB81 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 81 | TELECONFERENCED | |
HB 81-AK ENERGY EFFICIENCY LOANS: ELIGIBILITY
10:18:23 AM
CHAIR WOOL announced that the only order of business would be
HOUSE BILL NO. 81, "An Act making an entity that is exempt from
federal taxation under 26 U.S.C. 501(c)(3), (4), (6), (12), or
(19) (Internal Revenue Code) and a federally recognized tribe
eligible for a loan from the Alaska energy efficiency revolving
loan fund; relating to loans from the Alaska energy efficiency
revolving loan fund; and relating to the annual report published
by the Alaska Housing Finance Corporation."
10:18:41 AM
CHAIR WOOL re-opened public testimony.
10:18:53 AM
CHRIS ROSE, Executive Director, Renewable Energy Alaska Project
(REAP), explained that REAP was a statewide coalition of more
than 80 organizations which supported more renewable energy and
energy efficiency in the state. He declared support for HB 81,
and stated that energy efficiency worked, and it "saves a ton of
money for the community" which helps the state economy. He
reported that the average savings in the residential program was
30 percent, and he opined that there could be similar savings
for public and other commercial buildings. He stated that, as
this proposed bill addressed tribal and non-profit buildings, it
could also make these buildings more efficient. He emphasized
that this was "simply a loan program [and] AHFC's very good at
making loans and doing the job at underwriting this money." He
opined that the proposed bill could make money for the State of
Alaska, as it would be part of the Alaska Housing Finance
Corporation (AHFC) portfolio. He pointed out that this would be
another tool for tribal entities and non-profits to make their
buildings more energy efficient, and thereby keeping more money
in the economy.
10:20:42 AM
REPRESENTATIVE RAUSCHER asked how the AHFC dividend to the state
worked.
MR. ROSE explained that Alaska Housing Finance Corporation
(AHFC) and Alaska Industrial Development and Export Authority
(AIDEA) paid back dividends from the loan repayments which were
part of their portfolios. He added that the loans resulting
from proposed HB 81 would be part of these portfolios and would
potentially increase the dividend.
10:21:39 AM
STACY SCHUBERT, Director, Governmental Affairs & Public
Relations, Alaska Housing Finance Corporation (AHFC), Department
of Revenue, in response to Representative Rauscher, acknowledged
that AHFC paid a dividend to the State of Alaska, which added
$30 million to the current budget. She explained that this
dividend was based on activity from the mortgages and returns
from investments, and was calculated as 75 percent of the
adjusted net earnings.
10:23:09 AM
REPRESENTATIVE JONATHAN KREISS-TOMKINS, Alaska State
Legislature, expressed his appreciation for the diligence in
vetting the proposed bill, stating that "we're all on the same
team towards the common goal."
CHAIR WOOL mused about earlier questions for using assets of the
loan, or depleting the loan, and the potential for not having
enough money available for its original intent to public
buildings.
10:24:17 AM
CHAIR WOOL closed public testimony.
10:24:24 AM
REPRESENTATIVE WESTLAKE offered his belief that the money
realized from energy savings would be spent at the local level.
10:25:01 AM
REPRESENTATIVE SPOHNHOLZ moved to report HB 81, labeled 30-
LS0353\A, as amended, out of committee with individual
recommendations and the accompanying zero fiscal notes. There
being no objection, CSHB 81(ENE) was moved from the House
Special Committee on Energy.
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