CS FOR SENATE BILL NO. 23(FIN)                                                                                                
                                                                                                                                
     "An  Act relating  to transferable  film production  tax                                                                   
     credits  and film  production  tax credit  certificates;                                                                   
     requiring  the legislative audit  division to  audit the                                                                   
     Alaska   film   production    incentive   program;   and                                                                   
     providing  for   an  effective  date  by   amending  the                                                                   
     effective dates of secs. 3 and 4, ch. 63, SLA 2008."                                                                       
                                                                                                                                
Vice-chair Fairclough  MOVED to ADOPT HCS CSSB  23 (FIN) Work                                                                   
Draft   27-LS0252\OO,  (4/14/12,   Bullock)   as  a   working                                                                   
document.                                                                                                                       
                                                                                                                                
Co-Chair Stoltze OBJECTED for purpose of discussion.                                                                            
                                                                                                                                
Representative Costello  reviewed the changes in  the CS. She                                                                   
noted that  on Page 6, line  30, the word "may"  was replaced                                                                   
with  "shall."  She  remarked  that  the  change  echoed  the                                                                   
intent of  the subcommittee. She  cited that on Page  9, line                                                                   
16 the word  "may" was again changed to "shall."  She related                                                                   
that  the  changes  were  oversights  and  that  the  changes                                                                   
reflected the work  of the subcommittee on SB 23,  as well as                                                                   
the bill sponsor.                                                                                                               
                                                                                                                                
Vice-chair Fairclough  MOVED to RECIND the  previous ADOPTION                                                                   
of  HCS CSSB  23  (FIN)  Work Draft  27-LS0252\XX,  (4/13/12,                                                                   
Bullock). There being NO OBJECION it was so ordered.                                                                            
                                                                                                                                
Co-Chair  Stoltze WITHDREW  his OBJECTION  to ADOPT HCS  CSSB                                                                   
23 (FIN) Work  Draft 27-LS0252\OO, (4/14/12,  Bullock). There                                                                   
being NO OBJECTION the committee substitute was Adopted.                                                                        
                                                                                                                                
Vice-chair Fairclough  MOVED to  report HCS CSSB  23(FIN) out                                                                   
of  committee   with  individual   recommendations   and  the                                                                   
accompanying fiscal notes.                                                                                                      
                                                                                                                                
HCS CSSB  23(FIN) was  REPORTED out of  committee with  a "do                                                                   
pass"  recommendation  and with  new  fiscal notes  from  the                                                                   
Department  of  Revenue  and   the  Department  of  Commerce,                                                                   
Community  and Economic  Development  and a  new zero  fiscal                                                                   
note from the Legislature.                                                                                                      
                                                                                                                                
10:54:27 AM                                                                                                                   
AT EASE                                                                                                                         
                                                                                                                                
10:54:44 AM                                                                                                                   
RECONVENED