HB 104-ALASKA PERFORMANCE SCHOLARSHIPS  7:48:42 PM CHAIR THOMAS announced that the only order of business would be HOUSE BILL NO. 104, "An Act renaming the Alaska performance scholarship and relating to the scholarship and tax credits applicable to contributions to the scholarship; establishing the Alaska performance scholarship investment fund and the Alaska performance scholarship award fund and relating to the funds; making conforming amendments; and providing for an effective date." CHAIR THOMAS stated that the conference committee received the requested limited powers of free conference, enabling members to consider and amend the following aspects of the bill: Sections 3-7 and 30, relating to a high school diploma by examination; Sections 4 and 5, relating to the course requirement waiver; Section 11, relating to the funding "waterfall"; Sections 11 and 13, relating to the funding formula; and Section 13, relating to the payout mechanism. 7:49:01 PM SENATOR HOFFMAN moved to adopt CCS HB 104, Version 27-GH1893\G, Mischel, 4/15/12. CHAIR THOMAS objected for purposes of discussion. 7:49:23 PM The committee took an at-ease from 7:49 p.m. to 7:50 p.m. 7:50:47 PM SENATOR HOFFMAN explained the changes made to the working document, Senate Version S, as incorporated in the proposed Version G, which are: adopts the 2/3 scholarship 1/3 grants concept from Version S, as a defined split of the total funding; the payout mechanism is changed from 10 to 7 percent; the course requirement waiver provision in Section 5 allows 24 versus 12 months for students to complete academic requirements; all references to a high school diploma by examination (GED)[general educational development] have been removed; and the "waterfall" provisions are removed, thus returning all excess funds from both the scholarship and grants accounts to the Alaska Higher Education Investment Fund. 7:51:58 PM The committee took an at-ease from 7:51 p.m. to 7:55 p.m. 7:55:56 PM SENATOR HOFFMAN moved to have the following language appropriately reinserted into the proposed Version G [original punctuation provided]: (e) If an insufficient number of applicants apply for the available amount reserved under (d) of this section, the commission shall redeposit the remaining amount in the account from which the funds originated. Hearing no objection, the amendment was adopted. 7:56:50 PM CHAIR THOMAS removed his objection to CCS HB 104. There being no further objection, Version G was before the committee. 7:57:35 PM SENATOR HOFFMAN moved to report CCS HB 104, 27-GH1893\G out of committee, as amended. Without objection, it was so ordered.