Legislature(2003 - 2004)
03/17/2004 03:29 PM House FIN
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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
HOUSE FINANCE COMMITTEE
March 17, 2004
3:29 P.M.
TAPE HFC 04 - 60, Side A
CALL TO ORDER
Co-Chair Williams called the House Finance Committee meeting
to order at 3:29 P.M.
MEMBERS PRESENT
Representative John Harris, Co-Chair
Representative Bill Williams, Co-Chair
Representative Kevin Meyer, Vice-Chair
Representative Mike Chenault
Representative Eric Croft
Representative Hugh Fate
Representative Richard Foster
Representative Mike Hawker
Representative Reggie Joule
Representative Bill Stoltze
MEMBERS ABSENT
Representative Carl Moses
ALSO PRESENT
Cheryl Frasca, Director, Division of Management & Budget,
Office of the Governor
PRESENT VIA TELECONFERENCE
None
SUMMARY
HJR 9 Proposing amendments to the Constitution of the
State of Alaska relating to an appropriation limit
and a spending limit.
HJR 9 was HEARD and HELD in Committee for further
consideration.
HJR 26 Proposing amendments to the Constitution of the
State of Alaska relating to and limiting
appropriations from and inflation proofing the
Alaska permanent fund by establishing a percent of
market value spending limit.
HJR 26 was HEARD and HELD in Committee for further
consideration.
HOUSE JOINT RESOLUTION NO. 9
Proposing amendments to the Constitution of the State
of Alaska relating to an appropriation limit and a
spending limit.
Representative Fate explained that the proposed work draft
resolution would take the unrestricted general fund revenues
and the restricted revenues from agency receipts such as
Alaska Industrial Development and Export Authority, (AIDEA).
(Copy on File, FATE-1.a).
He stated that the draft was not intended to shorten the
process but instead, he hoped it would be beneficial to the
existing structure. He pointed out that the intent was for
it to have full procedural hearings and that the solution
had been approached from a business perspective. The draft
uses the historic revenues and base line taken during the
stable period when the pipeline was at half capacity, which
was the baseline used to make an index derived in the
proposed work draft.
Representative Fate calculated that the exemptions would be
approximately the same and added that each section had been
determined independently from the original legislation.
That process has been underway for the past 15 months. He
claimed that the proposed draft was a departure from using
revenues as the baseline rather than the expenditures.
Co-Chair Harris questioned if the draft had been adopted.
Co-Chair Williams explained that it was currently being
reviewed.
Representative Fate recommended before adopting the work
draft, the Committee wait for the spreadsheet. It would be
available tomorrow.
Co-Chair Williams noted that it was not his intention to
adopt the draft. He intended to take discussion and then
determine what sections should be placed into the House
Judiciary version.
Co-Chair Harris recommended that Representative Stoltze and
Representative Fate work together on the draft, out of
fairness to the sponsor of the bill and the sponsor of the
conceptual amendment. He encouraged that the concerns be
addressed outside of the committee process.
Representative Stoltze pointed out that the House Judiciary
draft was currently before the Committee. In each
Committee, unforeseen concepts had come forward. He warned
that any bill that amends the Constitution must have a
serious process of discussion and elaboration. He asked to
see the projections for the benefit of the Committee, while
incorporating directional advice from the Office of the
Governor and the Legislative Finance Division.
Co-Chair Williams acknowledged that the entire issue did not
excite him.
CHERYL FRASCA, DIRECTOR, DIVISION OF MANAGEMENT & BUDGET,
OFFICE OF THE GOVERNOR, noted that she had not yet had an
opportunity to review the bill draft.
Co-Chair Williams stated that HJR 9 would be HELD in
Committee for further consideration.
HOUSE JOINT RESOLUTION NO. 26
Proposing amendments to the Constitution of the State
of Alaska relating to and limiting appropriations from
and inflation proofing the Alaska permanent fund by
establishing a percent of market value spending limit.
Representative Foster MOVED to report CS HJR 26 (JUD) out of
Committee with individual recommendations and with the
accompanying fiscal notes.
Representative Fate OBJECTED for the purpose of discussion.
He referenced a memo, which had been distributed through the
Senate by the Legislative Finance Division.
Representative Foster WITHDREW his MOTION to move the bill
from Committee. There was NO OBJECTION.
HJR 26 was HELD in Committee for further consideration.
ADJOURNMENT
The meeting was adjourned at 3:43 P.M.
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