02/03/2009 09:00 AM Senate FINANCE

SENATE RESOLUTION NO. 4                                                                                                       
                                                                                                                                
     Relating to the federal stimulus package.                                                                                  
                                                                                                                                
Co-Chair  Hoffman  MOVED  to ADOPT  Work  Draft  26-LS0480\E,                                                                   
Bannister,  2/2/09.  There  being  NO OBJECTION,  it  was  so                                                                   
ordered.                                                                                                                        
                                                                                                                                
9:05:54 AM                                                                                                                    
                                                                                                                                
Co-Chair Stedman  noted there were  three changes in  the CS:                                                                   
the Senate Finance Committee is  now the prime sponsor, outer                                                                   
continental shelf  language was added on page  2, starting on                                                                   
line 7, and a  list of recipients to receive  copies has been                                                                   
added. There  is a  zero fiscal note.  He stated  that public                                                                   
testimony had already been taken for SR 3.                                                                                      
                                                                                                                                
9:06:49 AM     AT EASE                                                                                                        
9:07:29 AM     RECONVENED                                                                                                     
                                                                                                                                
Co-Chair Hoffman  explained changed  language on page  2. The                                                                   
primary reason  for the resolution  is to make the  wishes of                                                                   
the  state known,  particularly  to  make sure  the  stimulus                                                                   
package reached all regions of the state.                                                                                       
                                                                                                                                
Co-Chair  Hoffman  stated that  if  the House  takes  action,                                                                   
there  could possibly  be  a  joint resolution,  which  would                                                                   
carry  more weight,  but he  thought the  Senate should  move                                                                   
forward.                                                                                                                        
                                                                                                                                
Co-Chair   Stedman  agreed   that  if   the  House   sends  a                                                                   
resolution,  the Senate  would  take swift  action towards  a                                                                   
joint resolution.                                                                                                               
                                                                                                                                
9:09:04 AM                                                                                                                    
                                                                                                                                
Senator Huggins  explained that  the outer continental  shelf                                                                   
provision  on  page 2,  line  5  would  give the  state  37.5                                                                   
percent of  oil revenue.  The provision  would put  Alaska in                                                                   
equity  with the  gulf producing  states  established in  the                                                                   
2006 Energy Security Act.                                                                                                       
                                                                                                                                
Senator  Olson commented  wondered if  the outer  continental                                                                   
shelf provision  was worded strongly  enough. He  thought the                                                                   
section was the most significant portion of the resolution.                                                                     
                                                                                                                                
Co-Chair Stedman  stated that if  the adjustment is  made, it                                                                   
would have far reaching impact on the state.                                                                                    
                                                                                                                                
Co-Chair  Hoffman   MOVED  to  report  CSSR   4(FIN)  out  of                                                                   
Committee   with    individual   recommendations    and   the                                                                   
accompanying fiscal  note. There  being NO OBJECTION,  it was                                                                   
so ordered.                                                                                                                     
                                                                                                                                
CSSR 4(FIN)  was REPORTED OUT  of Committee with a  "do pass"                                                                   
recommendation  and  with  new  fiscal  note  by  the  Senate                                                                   
Finance Committee for all departments.