03/17/1995 02:59 PM Senate JUD

 SJUD - 3/17/95                                                                
                    SB 85 1995 REVISOR BILL                                   
                                                                              
 Pamela Finley, Assistant Revisor of the Division of Legal Services,           
 testified on CSSB 85 (STA).  She explained committee packets                  
 contained three amendments, entitled F1, F2, and F3.  She asked               
 committee members if they had any questions on the State Affairs              
 committee substitute.                                                         
                                                                               
 Number 275                                                                    
                                                                               
 SENATOR ADAMS asked about Section 19.   MS. FINLEY commented                  
 Section 19 deals with APOC disclosures.  She explained all of the             
 subsections in AS 39.50.030 (b) refer back to activities conducted            
 in the previous calendar year.  The Attorney General's Office                 
 pointed out that Subsection (6) does not contain that provision,              
 and ought to because it would be unreasonable to expect an                    
 individual to disclose loans that were paid off 10 or 20 years ago.           
 The Attorney General's Office suggested the inclusion of a time               
 limit, but because of the way the subsection is structured it would           
 be difficult to include a time limit in the middle of the                     
 paragraph.  She also noted it was unclear that the $500 limitation            
 applied to loans or loan guarantees.  To clarify the subsection,              
 the $500 limit was included in the first sentence, and the previous           
 calendar year provision was included at the end of the paragraph.             
                                                                               
 Number 292                                                                    
                                                                               
 SENATOR ADAMS questioned how that change would apply to a person              
 who has been a resident of the state for the past ten years.  MS.             
 FINLEY replied it would require the disclosure of a loan/loan                 
 guarantee or indebtedness only if that loan or loan guarantee was             
 made or the indebtedness was incurred during the preceding calendar           
 year, or if the amount owed was in excess of $500 during the                  
 previous calendar year.  She expressed concern about this section             
 but stated she thought it fixes the problem without changing the              
 way things happen.  She commented the section tracks the regulation           
 and the APOC reviewed it without concern.                                     
                                                                               
 SENATOR TAYLOR asked Ms. Finley to return to the committee on                 
 Monday to continue the review of CSSB 85 (STA), in order to give              
 committee members more time to review it.