SJR 2-CONST. AM: G.O. BONDS FOR STUDENT LOANS                                                                      
                                                                                                                                
3:55:17 PM                                                                                                                    
CHAIR DUNLEAVY  announced the  consideration of  SJR 2.  He shared                                                              
that  the resolution  is a  constitutional  amendment for  General                                                              
Obligation bonds for  student loans. The committee heard  SJR 2 on                                                              
February  24  and also  heard  public  testimony, which  is  still                                                              
open.  There is  a zero  fiscal note.  He said  the committee  has                                                              
received responses  to questions  posed at  the last meeting  from                                                              
Diane  Barrans  from  the  Alaska   Commission  on  Post-Secondary                                                              
Education.                                                                                                                      
                                                                                                                                
SENATOR ANNA MACKINNON,  Alaska State Legislature,  sponsor of SJR                                                              
2, read  from the sponsor  statement: SJR 2  is our way  of trying                                                              
to reduce student  loan debt for those who currently  have debt in                                                              
the  state of  Alaska and  those that  may have  debt in  Alaska's                                                              
future. Article IX,  sec. 8, of the Alaska  Constitution currently                                                              
says that  the state  only can use  the full  faith and  credit of                                                              
Alaska  for   capital  improvement   or  for  housing   loans  for                                                              
veterans.   This  would   amend  that   to  allow   post-secondary                                                              
education to  offer loans  to students,  thereby creating  a lower                                                              
loan rate for students, and our hope is to reduce student debt.                                                                 
                                                                                                                                
CHAIR DUNLEAVY opened public testimony.                                                                                         
                                                                                                                                
ROBERT DOTSON, representing  himself, testified in  support of SJR                                                              
2. He  shared that he is  helping support three  grandsons through                                                              
college.  He  said he  objects  to  the  high interest  rates  for                                                              
student loans.                                                                                                                  
                                                                                                                                
CHAIR DUNLEAVY noted  the fiscal note has zero impact.  He said if                                                              
both bodies pass SJR 2, it goes to the public for a vote.                                                                       
                                                                                                                                
SENATOR MACKINNON  agreed. She explained that after  two years the                                                              
public would vote again before any bond would be issued.                                                                        
                                                                                                                                
CHAIR DUNLEAVY closed public testimony.                                                                                         
                                                                                                                                
4:00:45 PM                                                                                                                    
SENATOR  HUGGINS  moved  to  report  SJR  2  from  committee  with                                                              
individual recommendations  and attached  zero fiscal  note. There                                                              
being no objection, the motion carried.