03/17/2011 02:00 PM Senate LABOR & COMMERCE
| Audio | Topic |
|---|---|
| Start | |
| SB66 | |
| Adjourn |
+ teleconferenced
= bill was previously heard/scheduled
| + | TELECONFERENCED | ||
| += | SB 66 | TELECONFERENCED | |
ALASKA STATE LEGISLATURE
SENATE LABOR AND COMMERCE STANDING COMMITTEE
March 17, 2011
2:04 p.m.
MEMBERS PRESENT
Senator Joe Paskvan, Vice Chair
Senator Linda Menard
Senator Bettye Davis
Senator Cathy Giessel
MEMBERS ABSENT
Senator Dennis Egan, Chair
COMMITTEE CALENDAR
SENATE BILL NO. 66
"An Act creating a new markets tax credit assistance guarantee
and loan program within the Alaska Industrial Development and
Export Authority; and providing for an effective date."
- MOVED CSSB 66(L&C) OUT OF COMMITTEE
PREVIOUS COMMITTEE ACTION
BILL: SB 66
SHORT TITLE: AIDEA: NEW MARKETS TAX CREDIT PROGRAM
SPONSOR(s): RULES BY REQUEST OF THE GOVERNOR
01/24/11 (S) READ THE FIRST TIME - REFERRALS
01/24/11 (S) L&C, FIN
03/10/11 (S) L&C AT 2:00 PM BELTZ 105 (TSBldg)
03/10/11 (S) Heard & Held
03/10/11 (S) MINUTE(L&C)
03/17/11 (S) L&C AT 2:00 PM BELTZ 105 (TSBldg)
WITNESS REGISTER
DANA OWEN
Staff to the Senate Labor and Commerce Committee
Alaska State Legislature
Juneau, AK
POSITION STATEMENT: Explained the CSSB 66(L&C) version M.
TED LEONARD, Executive Director
Alaska Industrial, Development and Export Authority (AIDEA)
Department of Commerce, Community and Economic Development
(DCCED)
POSITION STATEMENT: Supported CSSB 66(L&C) version M.
MARK DAVIS, Economic Development Officer
Alaska Industrial, Development and Export Authority (AIDEA)
Department of Commerce, Community and Economic Development
(DCCED)
POSITION STATEMENT: Supported CSSB 66(L&C) version M.
ACTION NARRATIVE
2:04:13 PM
VICE-CHAIR JOE PASKVAN called the Senate Labor and Commerce
Standing Committee meeting to order at 2:04 p.m. Present at the
call to order were Senators Davis, Menard, Giessel, and Paskvan.
2:04:42 PM
SB 66-AIDEA: NEW MARKETS TAX CREDIT PROGRAM
VICE-CHAIR PASKVAN announced SB 66 to be up for consideration.
SENATOR MENARD moved to adopt CSSB 66(L&C), version 27-GS1747\M.
SENATOR PASKVAN objected for discussion purposes.
2:05:27 PM
DANA OWEN, staff to the Senate Labor and Commerce Committee,
explained the two changes in this version of SB 66. He said they
both appear on page 4. One is substantive and one is technical.
At the top of page on line 1 the first phrase is "revolving
fund". In the original version, which was drafted by the
Administration, they simply used the word "fund". Legislative
drafters thought it was more appropriate to talk about a
revolving fund, so they changed that language.
Then on line 21 the amount of the total loan package cap is
changed from $50 million to $40 million as per discussions with
Senator Menard.
2:06:52 PM
TED LEONARD, Executive Director, Alaska Industrial, Development
and Export Authority (AIDEA), Department of Commerce, Community
and Economic Development (DCCED), said he understood Senator
Menard's concern with the cap and supported that change.
VICE-CHAIR PASKVAN asked specifically if he was okay with
changing "fund" to "revolving fund".
MARK DAVIS, Economic Development Officer, Alaska Industrial,
Development and Export Authority (AIDEA), Department of
Commerce, Community and Economic Development (DCCED), said
"revolving fund" is more precise language and they support it.
SENATOR PASKVAN found no further comments and closed public
testimony.
VICE-CHAIR PASKVAN removed his objection.
SENATOR MENARD moved to report CSSB 66(L&C) version M from
committee with individual recommendations and attached fiscal
note(s). There were no objections and it was so ordered.
2:09:36 PM
VICE-CHAIR PASKVAN adjourned the meeting at 2:09 p.m.
| Document Name | Date/Time | Subjects |
|---|