Legislature(2021 - 2022)SENATE FINANCE 532

01/27/2022 04:30 PM House LEGISLATIVE BUDGET & AUDIT

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Audio Topic
04:33:49 PM Start
04:35:02 PM Executive Session: Alaska Permanent Fund Corporation Personnel and Related Procurement
05:04:02 PM Adjourn
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
Executive Session
- Alaska Permanent Fund Corporation Personnel
and Related Procurement
                    ALASKA STATE LEGISLATURE                                                                                  
             LEGISLATIVE BUDGET AND AUDIT COMMITTEE                                                                           
                        January 27, 2022                                                                                        
                           4:33 p.m.                                                                                            
                                                                                                                                
MEMBERS PRESENT                                                                                                               
                                                                                                                                
Senator Natasha von Imhof, Chair                                                                                                
Senator Peter Micciche                                                                                                          
Senator Lora Reinbold                                                                                                           
Senator Bert Stedman                                                                                                            
                                                                                                                                
Representative Chris Tuck, Vice Chair                                                                                           
Representative Ivy Spohnholz                                                                                                    
Representative Andy Josephson                                                                                                   
Representative Neal Foster                                                                                                      
Representative James Kaufman                                                                                                    
Representative Dan Ortiz (alternate)                                                                                            
                                                                                                                                
MEMBERS ABSENT                                                                                                                
                                                                                                                                
Senator Lyman Hoffman                                                                                                           
Senator Click Bishop (alternate)                                                                                                
                                                                                                                                
OTHER LEGISLATORS PRESENT                                                                                                     
                                                                                                                              
Senator Jesse Kiehl                                                                                                             
Senator Tom Begich                                                                                                              
Representative Sara Hannan                                                                                                      
Representative Louise Stutes                                                                                                    
Representative Matt Claman                                                                                                      
Representative DeLena Johnson                                                                                                   
                                                                                                                                
COMMITTEE CALENDAR                                                                                                            
                                                                                                                                
EXECUTIVE SESSION:  Alaska Permanent Fund Corporation Personnel                                                                 
and Related Procurement                                                                                                         
                                                                                                                                
PREVIOUS COMMITTEE ACTION                                                                                                     
                                                                                                                                
No previous action to record                                                                                                    
                                                                                                                                
WITNESS REGISTER                                                                                                              
                                                                                                                                
No witnesses to record                                                                                                          
                                                                                                                                
ACTION NARRATIVE                                                                                                              
                                                                                                                                
4:33:49 PM                                                                                                                    
                                                                                                                                
CHAIR NATASHA VON  IMHOF called the Legislative  Budget and Audit                                                             
Committee  meeting  to  order  at   4:33  p.m.    Representatives                                                               
Spohnholz,  Josephson, Foster,  Kaufman,  Ortiz (alternate),  and                                                               
Tuck  and Senators  Reinbold, Micciche,  Stedman,  and von  Imhof                                                               
were present  at the call to  order.  Also present  were Senators                                                               
Kiehl  and  Begich  and   Representatives  Hannan,  Johnson,  and                                                               
Edgmon.                                                                                                                         
^Executive Session:  Alaska  Permanent Fund Corporation Personnel                                                               
and Related Procurement                                                                                                         
Executive Session:  Alaska Permanent Fund Corporation Personnel                                                             
                    and Related Procurement                                                                                 
                                                                                                                                
4:35:02 PM                                                                                                                    
                                                                                                                                
CHAIR VON IMHOF  announced that the only order  of business would                                                               
be  an  executive  session  to  consider  Alaska  Permanent  Fund                                                               
Corporation Personnel and Related Procurement.                                                                                  
                                                                                                                                
4:35:13 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  TUCK moved  that the  Legislative Budget  & Audit                                                               
Committee go  into executive session under  Uniform Rule 22(b)(1)                                                               
for  discussion  of matters,  the  immediate  knowledge of  which                                                               
would adversely  affect the  finances of  a government  unit; and                                                               
Uniform Rule  22(b)(3), for discussion  of a matter that  may, by                                                               
law,  be  required  to  be  confidential.    He  asked  that  the                                                               
following persons remain  in the room or online:   Megan Wallace;                                                               
Kris  Curtis, Legislative  Auditor, and  necessary staff  for the                                                               
auditor;  any legislators  not on  the committee;  and staff  for                                                               
legislators who  are members  of the committee.   There  being no                                                               
objection, it was so ordered.                                                                                                   
                                                                                                                                
4:36:18 PM                                                                                                                    
                                                                                                                                
The committee  took an at-ease  from 4:36  p.m. to 4:59  p.m. for                                                               
the purpose of executive session.                                                                                               
                                                                                                                                
4:59:53 PM                                                                                                                    
                                                                                                                                
CHAIR NATASHA VON  IMHOF called the Legislative  Budget and Audit                                                             
Committee meeting  back to  order at  4:59 p.m.   Representatives                                                               
Spohnholz,  Josephson, Foster,  Kaufman,  Ortiz (alternate),  and                                                               
Tuck  and Senators  Reinbold, Micciche,  Stedman,  and von  Imhof                                                               
were  present at  the  call back  to order.    Also present  were                                                               
Senator   Kiehl,    Senator   Begich,    Representative   Hannan,                                                               
Representative  Stutes (via  teleconference), and  Representative                                                               
Claman.                                                                                                                         
                                                                                                                                
5:00:31 PM                                                                                                                    
                                                                                                                                
CHAIR VON  IMHOF stated that it  was the goal of  the Legislative                                                               
Budget and Audit  Committee to protect the  Alaska Permanent Fund                                                               
from political intervention or manipulation  to ensure the fund's                                                               
continued growth  and sustainability,  without which,  the fund's                                                               
health and future sustainability would be in jeopardy.                                                                          
                                                                                                                                
5:01:10 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  TUCK moved  that the  Legislative Budget  & Audit                                                               
Committee  approve  a  contract,  in  an  amount  not  to  exceed                                                               
$100,000,  for legal  services to  investigate the  circumstances                                                               
and  events   surrounding  the   termination  of   former  Alaska                                                               
Permanent  Fund Corporation  executive  director, Angela  Rodell,                                                               
and  any  improper  actions  or  undue  political  influence,  by                                                               
members of  the Board  of Trustees of  the Alaska  Permanent Fund                                                               
Corporation, or  the Executive Branch,  and to prepare  a report.                                                               
He stated  it is  the intent  of the  Legislative Budget  & Audit                                                               
Committee  that  the  investigation  be  professional,  unbiased,                                                               
independent, objective,  and conducted  at arm's length  from the                                                               
political process.   He further  moved that the report  should be                                                               
submitted  to  the Legislative  Budget  &  Audit Committee  in  a                                                               
timely manner, and that the  Legislative Budget & Audit Committee                                                               
authorize the chair  to communicate the intent  of this committee                                                               
to  the  contracted  outside  legal  counsel.    There  being  no                                                               
objection, it was so ordered.                                                                                                   
                                                                                                                                
5:02:26 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE TUCK moved that the  chair be hereby authorized to                                                               
issue subpoenas under AS 24.25.010(c)  and AS 24.20.201(a)(2), if                                                               
necessary,  to   require  the  attendance   of  any   persons  or                                                               
production  of  any  documents  or  other  materials  before  the                                                               
Legislative  Budget  &  Audit  Committee,   or  as  part  of  the                                                               
investigation   relating   to   the  circumstances   and   events                                                               
surrounding  the  termination  of former  Alaska  Permanent  Fund                                                               
Corporation  executive director  Angela Rodell  and any  improper                                                               
actions  by  members of  the  Board  of  Trustees of  the  Alaska                                                               
Permanent Fund Corporation or the  Executive Branch.  There being                                                               
no objection, it was so ordered.                                                                                                
                                                                                                                                
CHAIR VON IMHOF thanked the committee and attendees for the                                                                     
discussion and said that a third-party, non-political review                                                                    
would [further] protect the fund for future generations.                                                                        
                                                                                                                                
5:04:02 PM                                                                                                                    
                                                                                                                                
ADJOURNMENT                                                                                                                   
                                                                                                                                
There being no further business before the committee, the                                                                       
Legislative Budget and Audit Committee meeting was adjourned at                                                                 
5:04 p.m.                                                                                                                       

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