Legislature(1993 - 1994)
04/15/1993 07:07 PM Senate FIN
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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
SENATE BILL NO. 106: An Act authorizing power transmission interties between Anchorage and the Kenai Peninsula, between Healy and Fairbanks, and between the Swan Lake and Tyee Lake hydroelectric projects, and approving the design and construction costs of the interties; and providing for an effective date. CO-CHAIR DRUE PEARCE announced that the CSSB 106(FIN) had been adopted in a prior meeting, and invited Brent Petrie, Manager /Planning & Project Development, Alaska Energy Authority, to join the committee members at the table to speak to the bill and the three fiscal notes. BRENT PETRIE said that CSSB 106(FIN) was complex and affected three components of the budget. He said the PCE administration component would be reduced by about $4M over a twenty-year period by the bill, and the PCE grant line from the general fund reduced allocations by $272M over the same twenty year period. He explained that funding sources would be changed from the general fund to the new revolving fund. The third component is the agency operations component and in FY 94, the agency would need an appropriation of $447.0 to start the interty work. That money would come back to the agency to initiate the negotiation with the utilities for design, construction, and financing for the projects. Senator Sharp MOVED for passage of CSSB 106(FIN) from committee with individual recommendations. No objections being heard, CSSB 106(FIN) was REPORTED OUT of committee with a "do pass," and with three fiscal notes for the Department of Commerce & Economic Development - two zero and one for $447.0. Co-chairs Pearce and Frank, Senators Kelly, Sharp, and Jacko signed "do pass." Senator Rieger signed "no recommendation." Senator Kerttula was absent from the meeting and did not sign.
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