SENATE FINANCE COMMITTEE February 9, 2012 9:00 a.m. 9:00:49 AM CALL TO ORDER Co-Chair Stedman called the Senate Finance Committee meeting to order at 9:00 a.m. MEMBERS PRESENT Senator Lyman Hoffman, Co-Chair Senator Bert Stedman, Co-Chair Senator Lesil McGuire, Vice-Chair Senator Johnny Ellis Senator Dennis Egan Senator Donny Olson Senator Joe Thomas MEMBERS ABSENT None SUMMARY SB 158 REAL ESTATE SALES LICENSEES CSSB 158(L&C) was REPORTED out of committee with a "do pass" recommendation and with a previously published zero fiscal note: FN1 (CED). SB 171 INCREASE BASE STUDENT ALLOCATION SB 171 was REPORTED out of committee with a "do pass" recommendation and with two new fiscal impact notes from the Department of Education and Early Development. Co-Chair Stedman discussed housekeeping. SENATE BILL NO. 158 "An Act relating to the Real Estate Commission; and providing for an effective date." 9:02:14 AM Senator Egan explained that SB 158 aimed to address several weaknesses in the current real estate law pertaining to real estate brokers. He remarked that the bill would allow the Real Estate Commission to appoint an overseer to temporarily manage a brokerage in the event that a broker is unavailable. He stated that the overseer would be appointed in cases of a traumatic or medical event; having a license suspended; or on an investigative finding that shows substantial evidence pointing to misappropriation of funds. He stated that the bill would assure that trust accounts and other sensitive business affairs were handled responsibly. He stressed that the bill would allow a licensee to donate a portion of a commission to charity and allow the licensee to advertise the donation. He urged the support of SB 158. Senator Olson wondered if anyone opposed the legislation. Senator Egan replied that there was no opposition. Senator Olson asked why the legislation was not addressed in the past. Co-Chair Stedman stated that there was a recent issue that was the catalyst for the writing of the bill. Co-Chair Stedman addressed the one zero fiscal note from Department of Commerce, Community and Economic Development. Co-Chair Hoffman MOVED to report CSSB 158(L&C) out of committee with individual recommendations and the accompanying fiscal note. There being NO OBJECTION it was so ordered. CSSB 158(L&C) was REPORTED out of committee with a "do pass" recommendation and with a previously published zero fiscal note: FN1 (CED). SENATE BILL NO. 171 "An Act increasing the base student allocation used for public school funding; and providing for an effective date." 9:04:33 AM Co-Chair Stedman looked at the two new fiscal notes from the Department of Education and Early Development. Senator Thomas stated that SB 171 would raise the base student allocation to $125, $130, and $135 over the following three fiscal years. He stressed that the bill would give school districts financial planning flexibility. He stressed that the Alaska Senate had implemented forward funding of education. He thanked the committee for addressing the issue. Senator Olson queried the administration's position on SB 171. Senator Thomas replied that the governor did not support SB 171. Senator McGuire supported SB 171, and commented that she had spoken to the Harbor View Middle School principal, an explained that the work of the Senate had made a difference in faculty retention. She reiterated that the Senate's work over the past few years was very positive in the school districts. Co-Chair Hoffman MOVED to report SB 171 out of committee with individual recommendations and the accompanying fiscal notes. There being NO OBJECTION it was so ordered. SB 171 was REPORTED out of committee with a "do pass" recommendation and with two new fiscal impact notes from the Department of Education and Early Development. Co-Chair Stedman discussed the following day's agenda. ADJOURNMENT 9:09:22 AM The meeting was adjourned at 9:09 AM.