HB 121-LOAN FUNDS: CHARTERS/MARICULTURE/MICROLOAN                                                                    
                                                                                                                                
5:42:32 PM                                                                                                                    
                                                                                                                                
CHAIR THOMPSON  announced that the  next order of  business would                                                               
be  HOUSE  BILL NO.  121,  "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."                                                                                               
                                                                                                                                
5:43:34 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE JOHNSON moved  Amendment 1, labeled 27-GH1728\1.2,                                                               
Kane, 2/24/11, which read:                                                                                                      
                                                                                                                                
     Page 8, line 15, following "principal":                                                                                    
          Insert "and interest"                                                                                                 
                                                                                                                                
     Page 8, line 17:                                                                                                           
          Delete "does not accrue during"                                                                                       
          Insert "may be deferred for a period of not more                                                                      
     than"                                                                                                                      
                                                                                                                                
REPRESENTATIVE JOHNSON objected for discussion.                                                                                 
                                                                                                                                
5:44:01 PM                                                                                                                    
                                                                                                                                
CURTIS THAYER,  Deputy Commissioner, Office of  the Commissioner,                                                               
Department   of  Commerce,   Community  &   Economic  Development                                                               
(DCCED),  explained  Amendment  1,   reading  the  deletions  and                                                               
insertions.                                                                                                                     
                                                                                                                                
5:44:52 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE   JOHNSON  noted   that   by  including   language                                                               
stipulating "may be", options can  be considered and interest can                                                               
be accrued.                                                                                                                     
                                                                                                                                
MR. THAYER affirmed that understanding.                                                                                         
                                                                                                                                
REPRESENTATIVE JOHNSON  removed his objection,  expressed support                                                               
for  the bill,  and said  it is  important legislation  that will                                                               
provide  opportunities  to offer  residents  a  hand-up versus  a                                                               
hand-out.                                                                                                                       
                                                                                                                                
CHAIR  THOMPSON, hearing  no  further  objection, announced  that                                                               
Amendment 1 was adopted.                                                                                                        
                                                                                                                                
5:47:11 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE JOHNSON moved to  report committee substitute (CS)                                                               
for  HB 121,  27-GH1728\I, Kane,  2/16/11, out  of committee,  as                                                               
amended,  with individual  recommendations  and the  accompanying                                                               
fiscal  notes.   There  being  no  objection, CSHB  121(FSH)  was                                                               
reported from the House Special Committee on Fisheries.                                                                         
                                                                                                                                
The committee took an at-ease from 5:47 p.m. to 5:49 p.m.