Legislature(2003 - 2004)
04/05/2004 03:04 PM House FIN
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* first hearing in first committee of referral
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+ teleconferenced
= bill was previously heard/scheduled
SENATE BILL NO. 277
An Act relating to the Alaska Commission on
Postsecondary Education; relating to the Alaska Student
Loan Corporation; relating to bonds of the corporation;
relating to loan and grant programs of the commission;
relating to an exemption from the State Procurement
Code regarding certain contracts of the commission or
corporation; making conforming changes; and providing
for an effective date.
DIANE BARRANS, EXECUTIVE DIRECTOR, POSTSECONDARY EDUCATION
COMMISSION, DEPARTMENT OF EDUCATION, explained that SB 277
is substantively the same as HB 404, which the committee
heard and reported out several weeks ago. Legal recommended
several technical changes.
In response to a question by Co-Chair Williams, Ms. Barrans
explained that the bill would allow the Alaska Student Loan
Corporation to issue bonds that could be used to pay capital
expenses of the state. There is a cap placed on the amount
of bonds that the Corporation could issue. SB 277
additionally authorizes the creation of the Alaska Advantage
Grant Program to be funded by the Corporation. The bill
adds clarifying language to statute regarding the
administrative lien process over which the Commission
currently has authority, and it makes changes to the state
procurement laws to exempt the services that are obtained to
guarantee and disburse loans electronically.
Co-Chair Williams noted that SB 277 passed the House, and HB
404 is now in House Rules.
Representative Foster MOVED to report CSSB 277(FIN) out of
Committee with attached fiscal notes. There being NO
OBJECTION, it was so ordered.
CSSB 277(FIN) was REPORTED out of Committee with a "do pass"
recommendation and with three previously published fiscal
impact notes.
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