HOUSE BILL NO. 437 "An Act relating to the reinstatement of Native corporations; and providing for an effective date." This was the first hearing for this bill in the Senate Finance Committee. BILL LAWRENCE, staff to Representative Carl Morgan, testified that this legislation provides an opportunity for several dissolved Native village corporations to address viable business matters to become viable entities. He explained that this bill extends, to December 31, 2000, the date that Native village corporations may be reinstated in accordance with state law. Mr. Lawrence shared that the Ohogamiut Traditional Council, whose corporation had been involuntarily dissolved, asked Representative Morgan for assistance in establishing a method that the Council could use in order to file annual business reports. These reports, Mr. Lawrence explained would allow the Council to pay incurred penalties, and resume operations as a viable corporation. Co-Chair Torgerson asked how many times this opportunity has been granted to the corporations. Mr. Lawrence knew of one other time, but did not know the total number of opportunities. Co-Chair Torgerson remembered the exemption granted a few years ago and wanted to know if the Native corporations would actually participate. Mr. Lawrence responded that the Ohogamiut Traditional Council has indicated that they would pay the back taxes owed and penalties, if the opportunity is granted. Co-Chair Torgerson asked what would happen if the council does not use this opportunity. Mr. Lawrence responded that they "would probably wish they had." Co-Chair Torgerson stated that he had seen this opportunity granted three times since he took office. He expressed that he did not oppose the legislation. Senator Leman offered a motion to report from Committee, HB 437 1-LS1564\A with accompanying zero fiscal note from the Department of Community and Economic Development. Without objection the bill MOVED from Committee.