Legislature(2003 - 2004)
05/09/2004 11:13 AM House FIN
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* first hearing in first committee of referral
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= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
CS FOR SENATE BILL NO. 279(FIN)
An Act authorizing and relating to the issuance of
bonds by the Alaska Housing Finance Corporation for
safe and clean water and hygienic sewage disposal
facility capital projects and other capital projects;
providing for the repayment of the bonds and bond
costs; relating to the dividend paid to the state by
the Alaska Housing Finance Corporation; and providing
for an effective date.
BRYAN BUTCHER, LEGISLATIVE LIAISON, ALASKA HOUSING FINANCE
CORPORATION (AHFC), DEPARTMENT OF REVENUE, ANCHORAGE,
offered to answer questions from the Committee.
Co-Chair Harris MOVED to report CS SB 279 (FIN) out of
Committee with individual recommendations and with the
accompanying fiscal note. Co-Chair Williams OBJECTED.
Following a brief at-ease, Co-Chair Williams WITHDREW his
OBJECTION.
Representative Hawker acknowledged that the village safe
water projects are needed, however, he voiced concern that
the bill would deny general fund money for the future. He
stated that until the entire State is behind a long-term
fiscal policy change, money should not be added to special
project concerns. Representative Hawker OBJECTED to moving
the bill from Committee.
Mr. Butcher pointed out that AHFC's Chief Executive Officer
(CEO), Mr. Dan Fauske, had recommended that the State bond
for village safe water projects and that traditionally,
those projects were paid through dividends. This year, the
Governor decided on a different proposal.
Representative Hawker MAINTAINED his OBJECTION.
A roll call vote was taken on the motion.
IN FAVOR: Meyer, Chenault, Croft, Fate, Foster, Harris,
Williams
OPPOSED: Stoltze, Hawker
Representative Moses and Representative Joule were not
present for the vote.
The MOTION PASSED (7-2).
CS SB 279 (FIN) was reported out of Committee with
"individual" recommendations and with a zero note by the
Department of Revenue.
CS FOR SENATE BILL NO. 279(FIN)
An Act authorizing and relating to the issuance of
bonds by the Alaska Housing Finance Corporation for
safe and clean water and hygienic sewage disposal
facility capital projects and other capital projects;
providing for the repayment of the bonds and bond
costs; relating to the dividend paid to the state by
the Alaska Housing Finance Corporation; and providing
for an effective date.
Representative Croft MOVED to RESCIND previous action taken
on failing to advance CS SB 279 (FIN). There being NO
OBJECTION, the bill was before the Committee.
Representative Croft MOVED to ADOPT Amendment #1. Co-Chair
Harris OBJECTED.
Representative Croft stated that the amendment addressed an
important aspect of the Anchorage Convention Center project.
Co-Chair Harris stated that the amount of the Alaska Housing
Finance Corporation (AHFC) dividend authorized for the year
was $45 million dollars.
BRYAN BUTCHER, LEGISLATIVE LIAISON, ALASKA HOUSING FINANCE
CORPORATION, DEPARTMENT OF REVENUE, ANCHORAGE, interjected
that $103 million dollars was the amount this year and that
the proposed number would come from that available amount.
Co-Chair Harris inquired if the amount requested would come
from that $5 million dollars. He asked if it would be
authorized to move to the Municipality of Anchorage if the
voters approved the Convention Center or if that amount
would instead be used to purchase a parking garage.
Representative Croft explained that the funds would be used
to pay a portion of the difference in the price of the
parking garage. Vice-Chair Meyer pointed out that if the
Convention Center is approved, that there are two lots
currently owned by the State, which could be used for
parking. He added that the developer is proposing to build
a new parking garage. If the voters do not approve the
Convention Center, the request will go away.
Co-Chair Harris requested to AMEND Amendment #1. He
referenced the Harborview Developmental Center, which has
not been used for a long time. The City needs about $1.5
million dollars to take care of that building. He thought
SB 279 could be a vehicle to accommodate that request. Co-
Chair Harris MOVED that the requested amount of $1.5 million
dollars for the purchase of that facility be placed into
Amendment #1. Co-Chair Williams OBJECTED.
Co-Chair Harris countered that he would remove his request
if Representative Croft was willing to remove Amendment #1.
Representative Croft WITHDREW Amendment #1.
Representative Foster MOVED to report CS SB 279 (FIN) out of
Committee. Representative Hawker OBJECTED.
A roll call vote was taken on the motion.
IN FAVOR: Meyer, Croft, Foster, Fate, Chenault, Harris,
Williams
OPPOSED: Hawker, Stoltze
Representative Joule and Representative Moses were not
present for the vote.
The MOTION PASSED (7-2).
CS SB 279 (FIN) was reported out of Committee with
"individual" recommendations and with zero note #3 by the
Department of Revenue.
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