05/13/2021 09:00 AM House FINANCE

HOUSE BILL NO. 85                                                                                                             
                                                                                                                                
     "An Act  relating to the Alaska  Banking Code; relating                                                                    
     to mutual  savings banks; relating to  interstate state                                                                    
     banks   and  international   banks;  relating   to  the                                                                    
     pledging  of  bank  assets as  collateral  security  to                                                                    
     tribal organizations; relating to  the pledging of bank                                                                    
     assets for interest swap  agreements; relating to state                                                                    
     business licenses;  relating to persons who  make loans                                                                    
     secured   by  interests   in  vessels   or  facilities;                                                                    
     relating  to liability  for the  release or  threatened                                                                    
     release of hazardous substances;  relating to the Model                                                                    
     Foreign Bank  Loan Act; and providing  for an effective                                                                    
     date."                                                                                                                     
                                                                                                                                
9:22:44 AM                                                                                                                    
                                                                                                                                
Representative  LeBon  summarized  the bill  with  the  word                                                                    
"parity." He explained that a  bank could seek a national or                                                                    
state  charter.  He  elaborated  that  the  Alaska  Banker's                                                                    
Association,  comprised of  the seven  banks (some  national                                                                    
charter and some  state charter) were all in  support of the                                                                    
bill. Additionally,  the Alaska Division of  Banking and the                                                                    
Department  of  Environmental   Conservation  supported  the                                                                    
legislation. He urged committee approval.                                                                                       
                                                                                                                                
Co-Chair  Foster  MOVED  to  REPORT   CSHB  85(L&C)  out  of                                                                    
committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal notes. There  being NO OBJECTION, it was                                                                    
so ordered.                                                                                                                     
                                                                                                                                
CSHB 85(L&C) was REPORTED out  of committee with a "do pass"                                                                    
recommendation and  with one new  zero fiscal note  from the                                                                    
Department of Environmental  Conservation and two previously                                                                    
published zero fiscal notes: FN1 (CED) and FN2 (CED).                                                                           
                                                                                                                                
Co-Chair  Merrick reviewed  the schedule  for the  following                                                                    
meeting.