03/15/2001 09:41 AM Senate FIN

     HOUSE BILL NO. 90                                                                                                          
     "An Act relating to reimbursement of municipal bonds for                                                                   
     school construction; and providing for an effective date."                                                                 
                                                                                                                                
                                                                                                                                
This  was the first  hearing  for this  bill in  the Senate  Finance                                                            
Committee.                                                                                                                      
                                                                                                                                
REPRESENTATIVE  ELDON MULDER,  Sponsor of the  bill, referred  to HB
 and  282 from  the  previous session,  authorizing  a bond  debt                                                            
reimbursement  and  school  construction  throughout  the state.  He                                                            
stressed that  HB 90 is "purely a  clean-up of HB 281. He  explained                                                            
that when the  latter bill was drafted,  the intention was  for bond                                                            
debt reimbursement,  not  only prospectively,  but retroactively  as                                                            
well for  Anchorage and  the Northwest Arctic  Borough. Instead,  he                                                            
pointed out,  the actual language  somehow excluded the retroactive                                                             
or  "look-back"   provision.   HB   90,  he   stated,  grants   that                                                            
authorization as originally intended.                                                                                           
                                                                                                                                
Senator Wilken asked if  this fixes the incorrect date included in a                                                            
portion of  HB 281, which  prevented the  Anchorage School  District                                                            
from participating.                                                                                                             
                                                                                                                                
Representative  Mulder answered  that it does  and pointed  out that                                                            
this is the companion  bill to SB 2, sponsored by  Senator Torgerson                                                            
and heard by the Committee earlier in the session.                                                                              
                                                                                                                                
Co-Chair  Kelly noted that  there could be  some amendments  to this                                                            
bill. He ordered the bill HELD in Committee.