01/31/1994 08:30 AM House FSH

  HB 303:  ESTABLISH A COMMERCIAL FISHERIES ENDOWMENT                          
                                                                               
  CHAIRMAN MOSES noted that on April 14, 1993, the Fisheries                   
  Committee held an overview hearing from the Fisheries                        
  Development Foundation.  He said HB 303 is derived from the                  
  information presented at that time and provides a good                       
  mechanism for the commercial fishing industry to move                        
  forward.                                                                     
                                                                               
  Number 050                                                                   
                                                                               
  LARAINE BERR, DEPUTY COMMISSIONER OF THE ALASKA DEPARTMENT                   
  OF REVENUE, advised the committee that the expense to set up                 
  such an endowment within the department was approximately                    
  $10,000 for bank accounts, plus $5,000 for personal                          
  services.  In addition, depending on the amount at any given                 
  time in the fund, there would also be a percentage fee for                   
  investing, but that fee would be a factor of the total.                      
                                                                               
  Number 076                                                                   
                                                                               
  MARK PRUSSING, COMPTROLLER FOR THE DIVISION OF TREASURY,                     
  ALASKA DEPARTMENT OF REVENUE, said that if grants are                        
  administered from the department, Treasury will invest the                   
  monies in the fund.  The Department of Administration will                   
  work on accounting for the grants.  If the fund was                          
  established, yet no monies were appropriated, then there                     
  will be no costs incurred.                                                   
                                                                               
  Number 108                                                                   
                                                                               
  JERRY McCUNE, PRESIDENT, UNITED FISHERMEN OF ALASKA (UFA),                   
  advised the committee that the UFA supports HB 303.                          
  Although the budget situation is tight this year, it would                   
  be great to get the vehicle for funding in place.                            
                                                                               
  Number 115                                                                   
                                                                               
  REPRESENTATIVE PHILLIPS asked if the UFA had any specific                    
  questions on this legislation.                                               
                                                                               
  MR. McCUNE advised Rep. Phillips that the bill would be a                    
  topic at the February 1994 UFA board meeting.                                
                                                                               
  REPRESENTATIVE PHILLIPS MOVED to PASS out HB 303 from the                    
  committee with individual recommendations.  There were no                    
  objections, and HB 303 MOVED out of committee with                           
  individual recommendations.