Legislature(2011 - 2012)SENATE FINANCE 532

01/25/2012 09:00 AM FINANCE


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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ SB 39 U.S. PRESIDENTIAL ELECTION COMPACT TELECONFERENCED
Heard & Held
+ HB 121 LOAN FUNDS:CHARTERS/MARICULTURE/MICROLOAN TELECONFERENCED
Heard & Held
+ Bills Previously Heard/Scheduled TELECONFERENCED
                 SENATE FINANCE COMMITTEE                                                                                       
                     January 25, 2012                                                                                           
                         9:02 a.m.                                                                                              
                                                                                                                                
9:02:12 AM                                                                                                                    
                                                                                                                                
CALL TO ORDER                                                                                                                 
                                                                                                                                
Co-Chair  Stedman   called  the  Senate   Finance  Committee                                                                    
meeting to order at 9:02 a.m.                                                                                                   
                                                                                                                                
MEMBERS PRESENT                                                                                                               
                                                                                                                                
Senator Lyman Hoffman, Co-Chair                                                                                                 
Senator Bert Stedman, Co-Chair                                                                                                  
Senator Lesil McGuire, Vice-Chair                                                                                               
Senator Johnny Ellis                                                                                                            
Senator Dennis Egan                                                                                                             
Senator Donny Olson                                                                                                             
Senator Joe Thomas                                                                                                              
                                                                                                                                
MEMBERS ABSENT                                                                                                                
                                                                                                                                
None                                                                                                                            
                                                                                                                                
ALSO PRESENT                                                                                                                  
                                                                                                                                
Lisa  Weissler, Staff,  Senator Hollis  French; Laura  Brod,                                                                    
Former State Representative,  Minnesota; Representative Alan                                                                    
Austerman; Margo Waring, Juneau;  Ruth Danner, Juneau; Barry                                                                    
Fadem,  President, National  Popular  Vote;  Susan K.  Bell,                                                                    
Commissioner,   Department   of  Commerce,   Community   and                                                                    
Economic  Development;   Cathy  Jeans,   Finance  Operations                                                                    
Manager,  Department  of  Commerce, Community  and  Economic                                                                    
Development;  Rodger Painter,  President, Alaskan  Shellfish                                                                    
Growers Association;  Russell Dick,  President and  CEO, Haa                                                                    
Aani, LLC; Paul Fuhs, Alaska Sea Farms.                                                                                         
                                                                                                                                
PRESENT VIA TELECONFERENCE                                                                                                    
                                                                                                                                
Dr.  Carolyn Brown,  Juneau;  Randy  S. Griffin,  Fairbanks;                                                                    
Judy Andree, League of Women Voters, Juneau.                                                                                    
                                                                                                                                
SUMMARY                                                                                                                       
                                                                                                                                
SB 39     U.S. PRESIDENTIAL ELECTION COMPACT                                                                                    
                                                                                                                                
          SB 39 was HEARD and HELD in committee for further                                                                     
          consideration.                                                                                                        
                                                                                                                                
CSHB 121(RLS)                                                                                                                   
          LOAN FUNDS: CHARTERS/MARICULTURE/MICROLOAN                                                                            
                                                                                                                                
          CSHB 121(RLS) was HEARD and HELD in committee for                                                                     
          further consideration.                                                                                                
                                                                                                                                
SENATE BILL NO. 39                                                                                                            
                                                                                                                                
     "An Act  ratifying an interstate  compact to  elect the                                                                    
     President and  Vice-President of  the United  States by                                                                    
     national popular  vote; and  making related  changes to                                                                    
     statutes  applicable  to  the selection  by  voters  of                                                                    
     electors  for   candidates  for  President   and  Vice-                                                                    
     President of  the United  States and  to the  duties of                                                                    
     those electors."                                                                                                           
                                                                                                                                
9:03:27 AM                                                                                                                    
                                                                                                                                
LISA WEISSLER,  STAFF, SENATOR  HOLLIS FRENCH,  explained SB                                                                    
39. She  referred to the  Sponsor Statement (copy  on file).                                                                    
She stated that  the bedrock rule in elections  was that the                                                                    
person with  the most  votes wins, but  that was  not always                                                                    
the case under the current  election system. She stated that                                                                    
the  United  States  Constitution  directed  each  state  to                                                                    
appoint a number of electors  equal to the state's number of                                                                    
senators  and representatives.  In  Alaska,  that was  three                                                                    
electors.  She  stated  that the  constitution  allowed  the                                                                    
states to determine how the electors would be appointed.                                                                        
                                                                                                                                
Co-Chair Hoffman remarked  that there was a  belief that the                                                                    
bill would  eliminate the Electoral College.  He wondered if                                                                    
that was  true.  Ms. Weissler  replied that SB 39  would not                                                                    
eliminate the Electoral College.                                                                                                
                                                                                                                                
Co-Chair Hoffman wondered how  many people in Alaska support                                                                    
SB 39. Ms. Weissler agreed to provide that information.                                                                         
                                                                                                                                
Senator  Olson queried  the similarity  between a  bill that                                                                    
was introduced  a few  years prior and  SB 39.  Ms. Weissler                                                                    
replied that they were very similar.                                                                                            
                                                                                                                                
9:09:46 AM                                                                                                                    
                                                                                                                                
LAURA   BROD,   FORMER  STATE   REPRESENTATIVE,   MINNESOTA,                                                                    
testified in  support of  SB 39.  She communicated  that she                                                                    
was   involved   in   similar   legislation   as   a   state                                                                    
representative  in Minnesota.  She stated  that SB  39 would                                                                    
guarantee  the  presidency  of  the  United  States  to  the                                                                    
candidate who received  the most votes in  the entire United                                                                    
States. The  bill ensured that  every vote, in  every state,                                                                    
would matter  in every presidential election.  She explained                                                                    
that the  bill had been  enacted by nine  jurisdictions that                                                                    
possessed  132  electoral votes  -  49  percent of  the  270                                                                    
necessary to  activate it (VT,  MD, WA,  IL, NJ, DC,  MA CA,                                                                    
and  HI).  She  furthered  that   the  bill  had  passed  31                                                                    
legislative chambers  in 21 jurisdictions  (AR, CA,  CO, DT,                                                                    
DC, DE, HI, IL, ME, MD, MA, MI,  NV, NJ, DM, NY, NC, OR, RI,                                                                    
VT, and WA).  In a recent 47 to 13  vote, in the republican-                                                                    
controlled New  York Senate, republicans supported  the bill                                                                    
21 to 11,  and democrats supported in 26 to  2. The bill had                                                                    
been endorsed by 2,124 state legislators.                                                                                       
                                                                                                                                
Ms.  Brod  stated  that the  shortcomings  of  the  currents                                                                    
system  stemmed  from  the state  winner-take-all  statutes,                                                                    
which  award  all  of  a  state's  electoral  votes  to  the                                                                    
candidate  who  received  the most  popular  votes  in  each                                                                    
state. The sinner-take-all rule  had permitted candidates to                                                                    
win the  presidency without winning  the most  popular votes                                                                    
nationwide  in 4  of our  56  elections. A  shift of  60,000                                                                    
votes  in Ohio  in  2004 would  have  elected Kerry  despite                                                                    
Bush's  nationwide lead  of 3  million.  She explained  that                                                                    
another  shortcoming of  the winner-take-all  rule was  that                                                                    
presidential candidates  had no  reason to pay  attention to                                                                    
the concerns of voters in  states where they are comfortably                                                                    
ahead  or hopelessly  behind. In  2004 and  2008, candidates                                                                    
concentrated two-thirds of their visits  and ad money in the                                                                    
post-convention  campaign   in  just  six   closely  divided                                                                    
battleground  states,  with  98  percent going  to  just  15                                                                    
states.  She stressed  that two  thirds of  the states  were                                                                    
ignored.                                                                                                                        
                                                                                                                                
Ms. Brod declared  that Article II, Section 1  of the United                                                                    
States Constitution  gave the states exclusive  control over                                                                    
the manner  of awarding  their electoral votes:  "Each state                                                                    
shall  appoint, in  such manner  as the  legislature thereof                                                                    
may direct, a number  of electors…" The winner-take-all rule                                                                    
was  not in  the constitution.  It  was used  by only  three                                                                    
states in the nation's first  election in 1789. She stressed                                                                    
that  Maine and  Nebraska's awarding  of electoral  votes by                                                                    
district was a reminder that states control the process.                                                                        
                                                                                                                                
Ms. Brod  noted that  under SB 39,  all the  electoral votes                                                                    
from   the  enacting   states  would   be  awarded   to  the                                                                    
presidential candidate  who received the most  popular votes                                                                    
in all fifty states and DC.  The bill would take effect only                                                                    
when  enacted  by  states  possessing   a  majority  of  the                                                                    
electoral  votes. She  explained that  SB 39  would preserve                                                                    
the Electoral College and state control of elections.                                                                           
                                                                                                                                
9:14:34 AM                                                                                                                    
                                                                                                                                
Ms. Brod noted that there  was not much campaign money spent                                                                    
in the  state, but  Alaskans contributed money  to campaigns                                                                    
that was  never spent  in the state  by the  candidates. She                                                                    
continued  to express  that a  national  popular vote  would                                                                    
require  the candidates  to wait  for the  polls to  return,                                                                    
before a president is determined.                                                                                               
                                                                                                                                
Co-Chair  Hoffman  queried  the  views of  the  citizens  of                                                                    
Alaskans pertaining to SB 39.  Ms. Brod stated that about 70                                                                    
percent believed  that a  National Popular  Vote was  in the                                                                    
best interest of them and Alaska.                                                                                               
                                                                                                                                
Co-Chair Hoffman  wondered why Alaskans supported  the bill.                                                                    
Ms.  Brod replied  that individuals  did not  want to  vote,                                                                    
because they felt that their  votes did not matter. She also                                                                    
stated that some Alaskans felt  that the candidates were not                                                                    
focusing on the issues that Alaskans cared about.                                                                               
                                                                                                                                
Co-Chair  Hoffman noted  that the  2004 election  would have                                                                    
allowed John Kerry  to win the popular vote.  He wondered if                                                                    
the  bill would  favor one  party more  than the  other. Ms.                                                                    
Brod replied that SB 39 would  not favor one party more than                                                                    
the other.                                                                                                                      
                                                                                                                                
9:24:09 AM                                                                                                                    
                                                                                                                                
Senator McGuire  wondered how the compact  would be enforced                                                                    
and  executed.  She  also  queried   the  possibility  of  a                                                                    
constitutional  challenge. Ms.  Brod  replied  that she  did                                                                    
expect litigation regarding  this legislation. She explained                                                                    
a  case from  1893, which  determined that  the awarding  of                                                                    
electors was  specifically a state's  right. She  noted that                                                                    
interstate compacts  were tools used by  legislators, but SB                                                                    
39 was  a non-typical way  to develop a compact.  She stated                                                                    
that  the  compact would  allow  the  states to  retain  the                                                                    
authority for elections. The states  would certify the total                                                                    
votes, as designed and determined by Alaska.                                                                                    
                                                                                                                                
Senator Thomas  wondered how the  electoral votes  in Alaska                                                                    
would  be  determined. Ms.  Brod  replied  that the  compact                                                                    
would allow for  Alaska to take all of the  votes in Alaska,                                                                    
and   determine  which   candidate  won   Alaska  for   each                                                                    
candidate. She furthered that the  totals for each candidate                                                                    
would be based  on the total national vote  from each state,                                                                    
and  the electors  would  base their  vote  on the  national                                                                    
popular vote.                                                                                                                   
                                                                                                                                
9:32:35 AM                                                                                                                    
                                                                                                                                
Senator Olson wondered how voter  fraud would be dealt with,                                                                    
and  incomplete numbers  of votes.  He  added the  computers                                                                    
were  a dominant  part  of elections  in  rural Alaska,  and                                                                    
might  not work  as well  in those  areas. Ms.  Brod replied                                                                    
that   the  rural   voters  would   be   heard  under   this                                                                    
legislature. She  stressed that  each state  could determine                                                                    
voter fraud laws.  She felt that voter  fraud would decrease                                                                    
under SB 39.                                                                                                                    
                                                                                                                                
Senator Egan noted some occurrences  when the members of the                                                                    
Electoral College  did not vote  for the candidate  that was                                                                    
expected. Ms. Brod  replied that there were  eleven cases in                                                                    
history when  and elector did  not vote they  direction that                                                                    
was expected. She stressed that  it was the state's right to                                                                    
determine how to deal with "faithless" electors.                                                                                
                                                                                                                                
Senator  Egan   queried  how  much  of   the  United  States                                                                    
population lived  in the  top 50 largest  cities in  the US.                                                                    
Ms. Brod agreed to provide that information.                                                                                    
                                                                                                                                
9:40:28 AM                                                                                                                    
                                                                                                                                
Co-Chair  Hoffman  noted the  positive  reasons  for SB  39:                                                                    
campaign dollars  spent in the  state, the  presidential win                                                                    
would not be declared until  the polls in the western United                                                                    
States were  closed, and Alaskan  issues would  be addressed                                                                    
during the presidential campaign.  He queried some potential                                                                    
drawbacks to  changing the current system.  Ms. Brod replied                                                                    
that she  could not think  of any drawbacks to  changing the                                                                    
system. She  stressed that  a national  popular vote  was in                                                                    
the best interest of the country.                                                                                               
                                                                                                                                
JUDY   ANDREE,  LEAGUE   OF   WOMEN   VOTERS,  JUNEAU   (via                                                                    
teleconference),    testified in support of SB  39. She felt                                                                    
that the legislation was a  bi-partisan effort. She stressed                                                                    
the  importance of  the Electoral  College, but  pointed out                                                                    
that  the  Electoral  College  had   evolved  to  support  a                                                                    
partisan system.  She felt that individuals  must be counted                                                                    
at the national level.                                                                                                          
                                                                                                                                
9:46:53 AM                                                                                                                    
                                                                                                                                
DR.  CAROLYN BROWN,  JUNEAU (via  teleconference), spoke  in                                                                    
strong support of SB 39. She  shared that the states had the                                                                    
right  under  the  US Constitution,  to  determine  how  the                                                                    
electors would consider the vote.                                                                                               
                                                                                                                                
RANDY S. GRIFFIN,  FAIRBANKS (via teleconference), testified                                                                    
against SB 39.  He felt that Alaska  had more representation                                                                    
than Alaskans deserved.  He felt that Alaska  was given more                                                                    
power per person. He stressed  that Alaskans would lose that                                                                    
power.  He  liked the  electoral  system,  because it  would                                                                    
accentuate the  state's boundaries. He felt  that the states                                                                    
would be considered "little nations."                                                                                           
                                                                                                                                
9:52:25 AM                                                                                                                    
                                                                                                                                
MARGO WARING,  JUNEAU, testified  in support  of SB  39. She                                                                    
expressed that the history of  voting in the country was not                                                                    
positive.                                                                                                                       
                                                                                                                                
RUTH DANNER, JUNEAU,  spoke in support of SB  39. She stated                                                                    
that   Alaskans   raise   $1.6  million   for   presidential                                                                    
elections,  and  the  money   was  spent  elsewhere  in  the                                                                    
country.                                                                                                                        
                                                                                                                                
BARRY FADEM, PRESIDENT, NATIONAL  POPULAR VOTE, testified in                                                                    
support of  SB 39. He pointed  out that Alaska had  no clout                                                                    
under the current system.                                                                                                       
                                                                                                                                
Co-Chair  Stedman noted  the one  zero fiscal  not form  the                                                                    
Division of Elections.                                                                                                          
                                                                                                                                
SB  39  was   HEARD  and  HELD  in   committee  for  further                                                                    
consideration.                                                                                                                  
                                                                                                                                
CS FOR HOUSE BILL NO. 121(RLS)                                                                                                
                                                                                                                                
     "An Act  establishing the commercial  charter fisheries                                                                    
     revolving  loan fund,  the  Mariculture revolving  loan                                                                    
     fund, and the Alaska  microloan revolving loan fund and                                                                    
     relating  to those  funds and  loans from  those funds;                                                                    
     and providing for an effective date."                                                                                      
                                                                                                                                
10:02:26 AM                                                                                                                   
                                                                                                                                
SUSAN  K.   BELL,  COMMISSIONER,  DEPARTMENT   OF  COMMERCE,                                                                    
COMMUNITY AND  ECONOMIC DEVELOPMENT,  referred the  CSHB 121                                                                    
Revolving  Loan Funds  Summary (copy  on  file). She  stated                                                                    
that  there  were  three   proposed  revolving  loan  funds:                                                                    
Commercial Charter  Fisheries, Mariculture,  and Microloans.                                                                    
She referred  to page 2, which  displayed the capitalization                                                                    
amounts:   Commercial   Charter   Fisheries,   $9   million;                                                                    
Mariculture, $2.5  million; and Microloans, $3  million. She                                                                    
looked at the loan limits  for each fund: Commercial Charter                                                                    
Fisheries, $100,000; Mariculture,  $100,000; and Microloans,                                                                    
$35,000 for  a single  individual and $70,000  for a  two or                                                                    
more. She  noted that  the loan  terms, interest  rates, and                                                                    
floor/ceiling were also displayed.                                                                                              
                                                                                                                                
Commissioner Bell  pointed out that many  were interested in                                                                    
pursuing  revolving loan  avenues for  economic development.                                                                    
She stated that there  were discussions with local financial                                                                    
institutions that  expressed support. She stressed  that the                                                                    
Charter   Culture  Fisheries   and  Mariculture   funds  had                                                                    
important implications for coastal and rural Alaska.                                                                            
                                                                                                                                
Commissioner  Bell looked  at  page  3: "Commercial  Charter                                                                    
Fisheries Revolving Loan Fund." This fund would-                                                                                
        • Provide access to capital for Alaskan-Owned                                                                           
          Charters.                                                                                                             
        • Repatriate permits to Alaska.                                                                                         
        • Increase economic benefits from this sector.                                                                          
                                                                                                                                
Commissioner Bell pointed out the fund's current activity:                                                                      
NOAA took  1,088 applications, issuing 90  percent permanent                                                                    
and only  10 percent  as interim (Alaska  residents received                                                                    
92  out of  111).  She  explained that  for  the first  four                                                                    
months of  2011, average permit  prices for Area  2C permits                                                                    
were  nearly  $35,000  and  Area   3A  permits  were  nearly                                                                    
$59,000.                                                                                                                        
                                                                                                                                
Commissioner Bell  looked at page 4,  "Mariculture Revolving                                                                    
Loan Fund":                                                                                                                     
        • Mariculture  industry  has  significant  potential                                                                    
          for year-round job creation in rural and coastal                                                                      
          areas of the state.                                                                                                   
        • Relatively new  industry and require 5-7  years to                                                                    
          see return on investment.                                                                                             
        • Wild harvest exceeds  cultivated harvest. Based on                                                                    
          current  levels, with  greater investment,  farmed                                                                    
          shellfish  will exceed  the market  value of  wild                                                                    
          caught  shellfish  (excluding crab)  within  10-15                                                                    
          years.                                                                                                                
        • Industry could generate  $20-$30 million in annual                                                                    
          product sales.                                                                                                        
                                                                                                                                
Commissioner  Bell  discussed   page  5,  "Alaska  Microloan                                                                    
Revolving Loan Fund":                                                                                                           
        • Improves  economic  development to  seed  start-up                                                                    
          businesses.                                                                                                           
        • Provides  access  to  working  capital,  inventory                                                                    
          expansion, etc.                                                                                                       
        • Provides financing for expansion.                                                                                     
        • Modeled after SBA program.                                                                                            
        • Alaska  one  of  few remaining  states  without  a                                                                    
          microloan program.                                                                                                    
                                                                                                                                
Co-Chair Hoffman  wondered how  the split was  determined on                                                                    
the  capitalization of  each of  the programs.  Commissioner                                                                    
Bell  replied   that  the  demand  for   Commercial  Charter                                                                    
Fisheries  was increased,  and was  supported in  the House.                                                                    
She stated that  there was an estimated  of anticipated loan                                                                    
limits,  market   demand,  and  history  to   determine  the                                                                    
capitalization.                                                                                                                 
                                                                                                                                
Co-Chair   Stedman   queried  the   initial   capitalization                                                                    
submission.  Commissioner Bell  responded  that the  initial                                                                    
proposed  capitalizations   were  $5  million   for  Charter                                                                    
Fisheries,  $2.5   for  Mariculture,  and  $3   million  for                                                                    
Microloan.                                                                                                                      
                                                                                                                                
Co-Chair  Hoffman  stressed  that  he  supported  commercial                                                                    
fishing.  He  added  that  his  district  was  probably  the                                                                    
largest fishing  district in the  state. He wondered  if his                                                                    
district's   programs   were    too   healthy   to   assist.                                                                    
Commissioner  Bell replied  that  the vast  majority of  the                                                                    
processed loans were for commercial fishing.                                                                                    
                                                                                                                                
10:13:27 AM                                                                                                                   
                                                                                                                                
Co-Chair Hoffman  noted that many  of his  constituents were                                                                    
interested in  marketing their product, and  felt that there                                                                    
was  not  enough  emphasis on  that  aspect  of  assistance.                                                                    
Commissioner  Bell  replied there  were  too  core areas  of                                                                    
economic development activity:  financing and marketing. She                                                                    
agreed to  participate in discussions to  improve individual                                                                    
regional marketing entities.                                                                                                    
                                                                                                                                
Co-Chair  Hoffman   stressed  that  individuals   wanted  to                                                                    
process  their own  fish, and  send the  fish to  market. He                                                                    
wondered  if  there  was  assistance  in  a  revolving  loan                                                                    
program that  could assist  them. Commissioner  Bell replied                                                                    
that  there was  potential within  the Microloan  program or                                                                    
the Rural Development Investment Fund (RDIF).                                                                                   
                                                                                                                                
Senator  Thomas queried  how the  determination of  interest                                                                    
rates and  whether there  would be an  annual report  of the                                                                    
program.  Commissioner  Bell  responded that  the  microloan                                                                    
program would  be available  on a  statewide basis,  and the                                                                    
RDIF  program was  specific  to  community populations  that                                                                    
were  5,000 or  less if  not connected  by road  or rail  to                                                                    
Anchorage or Fairbanks  and 2,000 or less  if connected. She                                                                    
stressed that  there was  growth in  the utilization  of the                                                                    
RDIF in the year prior.                                                                                                         
                                                                                                                                
CATHY  JEANS,  FINANCE  OPERATIONS  MANAGER,  DEPARTMENT  OF                                                                    
COMMERCE,  COMMUNITY AND  ECONOMIC DEVELOPMENT,  stated that                                                                    
there were mandated  reports that were supposed  to be filed                                                                    
by the end of January  of each year for commercial fisheries                                                                    
and   fisheries  enhancement.   She   agreed   to  add   the                                                                    
Mariculture and Microloan funds to the report.                                                                                  
                                                                                                                                
10:18:37 AM                                                                                                                   
                                                                                                                                
Senator   McGuire  requested   data   that  determined   the                                                                    
principal  amount. She  stressed  the  loans should  develop                                                                    
revenue.  She  wondered  if there  was  an  anticipation  of                                                                    
profits coming back to the  state. Commissioner Bell replied                                                                    
that there  was some  anticipation that  prices could  be as                                                                    
high  as $100,000,  and also  as many  as 100  Alaskans that                                                                    
needed to  purchase a  permit. She  stressed that  there was                                                                    
basis  in determining  the principal  amount. She  agreed to                                                                    
provide further information.                                                                                                    
                                                                                                                                
Senator Egan would why the  interest would be different on a                                                                    
three-year area and Co-Chair Stedman  also queried who would                                                                    
authorize  the loans.  Commissioner Bell  stated that  DCCED                                                                    
had  worked   with  the   Commercial  Finance   Industry  to                                                                    
determine the rates.                                                                                                            
                                                                                                                                
Co-Chair  Stedman  requested  the default  issues  regarding                                                                    
cross-correlation for the borrowers.                                                                                            
                                                                                                                                
Co-Chair Stedman  noted the four  new fiscal notes  from the                                                                    
Department of Education and Early Development.                                                                                  
                                                                                                                                
10:25:38 AM                                                                                                                   
                                                                                                                                
RODGER   PAINTER,  PRESIDENT,   ALASKAN  SHELLFISH   GROWERS                                                                    
ASSOCIATION, testified  in favor of  HB 121. He  pointed out                                                                    
that  there  was  a  tremendous  demand  for  financing.  He                                                                    
stressed that  the loans were  meant for  operating capital.                                                                    
He felt  that there were  many applicants who  would utilize                                                                    
the $25 million capitalization.                                                                                                 
                                                                                                                                
Senator McGuire queried the proper  amount to capitalize the                                                                    
fund. She wondered if Mr.  Painter supported advocacy of the                                                                    
committee  to  raise  the  $2.5  million  principal  in  the                                                                    
Mariculture Fund. Mr.  Painter replied that he  was going to                                                                    
embark on a  training program to apprentice  farmers, and in                                                                    
two years  those people would  be looking for  financing. He                                                                    
stressed that  currently there were enough  people who would                                                                    
use up the entire fund.                                                                                                         
                                                                                                                                
RUSSELL DICK,  PRESIDENT AND CEO,  HAA AANI,  LLC, testified                                                                    
in support of HB 121.  He stressed that there were financial                                                                    
challenges  and moving  impediments on  economic development                                                                    
in rural  communities. He felt  that HB 121  would encourage                                                                    
economic expansion in rural communities.                                                                                        
                                                                                                                                
10:35:43 AM                                                                                                                   
                                                                                                                                
PAUL FUHS, ALASKA SEA FARMS, spoke in support of HB 121.                                                                        
                                                                                                                                
Commissioner  Bell thanked  the committee,  and stated  that                                                                    
she would follow-up with the default rate questions.                                                                            
                                                                                                                                
Co-Chair  Stedman  requested  a classical  calculation,  and                                                                    
queried how many loans had  been restructured and defined as                                                                    
default.                                                                                                                        
                                                                                                                                
Senator McGuire  requested information regarding  the budget                                                                    
for BSC funding.                                                                                                                
                                                                                                                                
CSHB 121(RLS) was HEARD and HELD in committee for further                                                                       
consideration.                                                                                                                  
                                                                                                                                
Co-Chair Stedman cancelled the following day's meeting.                                                                         
                                                                                                                                
ADJOURNMENT                                                                                                                   
                                                                                                                                
10:41:01 AM                                                                                                                   
                                                                                                                                
The meeting was adjourned at 10:41 AM.                                                                                          
                                                                                                                                
                                                                                                                                

Document Name Date/Time Subjects
SB 39 - Alaska Poll Results.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
SB 39 - Changes To Bill.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
SB 39 - One Page Summary.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
SB 39 - Sectional.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
SB 39 - Sponsor Statement.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
SB 39 - Editorials.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
HB 121 - Alaskan Shellfish Grower's Association - Support.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 - Letter of support - ABA.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 - Letter of support - Oceans Alaska.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 - CCED - Letter of support - SWAMC.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 - Letter of Support - Kathryn Dodge.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 - Treasures of the Tidelands - WA.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 Sectional Analysis Version T.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121-CCED-Letter of Support-Taco Loco.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
House Bill 121 Explanation of Changes SFIN.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
SB 39 Ruth Danner Letter.doc SFIN 1/25/2012 9:00:00 AM
SB 39
HB 121 ASGA Suooprt Letter.doc SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 ASGA Support Document.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 ASGA Support Economic Statistic Document.docx SFIN 1/25/2012 9:00:00 AM
HB 121
2012 CSHB 121 (RLS) - Senate Finance.pptx SFIN 1/25/2012 9:00:00 AM
HB 121
CSHB 121 - Letter of support - SWAMC.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
SB 39 One Page Summary update.pdf SFIN 1/25/2012 9:00:00 AM
SB 39
HB 121 Written Testimony.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
HB 121 - Senate Finance Committee Questions.pdf SFIN 1/25/2012 9:00:00 AM
HB 121
FEDC LOS for HB 121.pdf SFIN 1/25/2012 9:00:00 AM
HB 121