04/06/2023 08:00 AM House COMMUNITY & REGIONAL AFFAIRS

        HB 123-ARTICLES OF INCORPORATION FOR ANCSA CORPS                                                                    
                                                                                                                                
8:24:00 AM                                                                                                                    
                                                                                                                                
CHAIR MCCORMICK announced that the  final order of business would                                                               
be HOUSE  BILL NO. 123, "An  Act relating to an  amendment to the                                                               
articles of  incorporation of a  corporation organized  under the                                                               
Alaska  Native  Claims  Settlement  Act;  and  providing  for  an                                                               
effective date."                                                                                                                
                                                                                                                                
8:24:14 AM                                                                                                                    
                                                                                                                                
TOM  WRIGHT, Staff,  Representative Craig  Johnson, Alaska  State                                                               
Legislature,  re-capped HB  123  on behalf  of Representative  C.                                                               
Johnson, prime  sponsor.   He explained that  HB 123  would bring                                                               
the Alaska Native Claims Settlement  Act (ANCSA) in line with the                                                               
Alaska Corporations  Code wherein those who  formed a corporation                                                               
after 1989  are allowed to have  a 50 percent plus  one threshold                                                               
for amendments  to the  articles of  corporation; the  bill would                                                               
eliminate  the two-thirds  threshold  corporations are  currently                                                               
under.                                                                                                                          
                                                                                                                                
8:25:05 AM                                                                                                                    
                                                                                                                                
CHAIR MCCORMICK opened public testimony on HB 123.                                                                              
                                                                                                                                
8:25:27 AM                                                                                                                    
                                                                                                                                
ROBERT  MISULICH, General  Counsel, Aleut  Corporation, testified                                                               
in support of HB 123, which  addresses the important issue of the                                                               
voting threshold  for an Alaska  Native corporation to  amend its                                                               
articles of incorporation  through a simple majority  vote of the                                                               
outstanding voting shares.                                                                                                      
                                                                                                                                
8:27:11 AM                                                                                                                    
                                                                                                                                
SUSAN TAYLOR,  CEO, St. Mary's  Native Corporation,  testified in                                                               
support of HB  123, noting that Mr. Misulich had  covered all the                                                               
points she had planned to make.                                                                                                 
                                                                                                                                
8:27:58 AM                                                                                                                    
                                                                                                                                
NICHOLAS   OSTROVSKY,  General   Counsel,  Ahtna,   Incorporated,                                                               
testified in support  of HB 123.  He stated  the bill would bring                                                               
Native corporations  in line with  modern corporations  code, and                                                               
it would help  Native corporations be more  agile, efficient, and                                                               
continue  with  the important  mission  to  provide economic  and                                                               
social benefits for Alaska Native shareholders.                                                                                 
                                                                                                                                
8:28:43 AM                                                                                                                    
                                                                                                                                
SARAH  OBED,  Senior  Vice President,  External  Affairs,  Doyon,                                                               
Limited, testified  on behalf of  the ANCSA  Regional Association                                                               
(ARA) in support of  the passage of HB 123.   She stated that ARA                                                               
and the member organizations are  tasked with providing for their                                                               
Alaska    Native   shareholders    socially,   culturally,    and                                                               
economically.     She  noted  the  current   two-thirds  majority                                                               
requirement is an  outdated rule, and a hurdle.   She thanked the                                                               
committee for its work on  behalf of Alaska and the consideration                                                               
of this legislation.                                                                                                            
                                                                                                                                
8:31:56 AM                                                                                                                    
                                                                                                                                
CHAIR MCCORMICK,  after ascertaining that  there was no  one else                                                               
who wished to testify, closed public testimony on HB 123.                                                                       
                                                                                                                                
8:32:26 AM                                                                                                                    
                                                                                                                                
CHAIR  MCCORMICK  entertained  a  motion  to  move  HB  123  from                                                               
committee.                                                                                                                      
                                                                                                                                
8:32:33 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE MCCABE  moved to  report HB  123 out  of committee                                                               
with individual recommendations and  the accompanying zero fiscal                                                               
note.  There being no objection, HB 123 was reported out of the                                                                 
House Community and Regional Affairs Standing Committee.