SENATE FINANCE COMMITTEE                                                                                       
                     February 8, 2017                                                                                           
                         9:01 a.m.                                                                                              
                                                                                                                                
9:01:51 AM                                                                                                                    
                                                                                                                                
CALL TO ORDER                                                                                                                 
                                                                                                                                
Co-Chair MacKinnon called the Senate Finance Committee                                                                          
meeting to order at 9:01 a.m.                                                                                                   
                                                                                                                                
MEMBERS PRESENT                                                                                                               
                                                                                                                                
Senator Lyman Hoffman, Co-Chair                                                                                                 
Senator Anna MacKinnon, Co-Chair                                                                                                
Senator Click Bishop, Vice-Chair                                                                                                
Senator Mike Dunleavy                                                                                                           
Senator Donny Olson                                                                                                             
Senator Natasha von Imhof                                                                                                       
                                                                                                                                
MEMBERS ABSENT                                                                                                                
                                                                                                                                
Senator Peter Micciche                                                                                                          
                                                                                                                                
ALSO PRESENT                                                                                                                  
                                                                                                                                
Jim Shine, Special Projects Assistant, Division of Oil and                                                                      
Gas, Department of Natural Resources.                                                                                           
                                                                                                                                
SUMMARY                                                                                                                       
                                                                                                                                
SB 30     APPROVAL: ROYALTY OIL SALE TO PETRO STAR                                                                              
                                                                                                                                
          SB 30 was REPORTED out of committee with a "do                                                                        
          pass" recommendation and with a new fiscal impact                                                                     
          note from the Department of Natural Resources.                                                                        
                                                                                                                                
SENATE BILL NO. 30                                                                                                            
                                                                                                                                
     "An Act approving and ratifying the sale of royalty                                                                        
     oil by the State of Alaska to Petro Star Inc.; and                                                                         
     providing for an effective date."                                                                                          
                                                                                                                                
9:02:57 AM                                                                                                                    
                                                                                                                                
JIM SHINE,  SPECIAL PROJECTS ASSISTANT, DIVISION  OF OIL AND                                                                    
GAS, DEPARTMENT OF NATURAL RESOURCES,  stated that there was                                                                    
a  revised fiscal  note, which  corrected a  clerical error.                                                                    
The  positive  fiscal impact  would  begin  January 1,  2018                                                                    
through FY 22.                                                                                                                  
                                                                                                                                
Co-Chair  MacKinnon   shared  that  Vice-Chair   Bishop  had                                                                    
addressed  the changes  in  the fiscal  note  at a  previous                                                                    
meeting. She also  stated that bill provided  revenue to the                                                                    
state.                                                                                                                          
                                                                                                                                
Vice-Chair Bishop  MOVED to  REPORT SB  30 out  of Committee                                                                    
with individual recommendations  and the accompanying fiscal                                                                    
note. There being NO OBJECTION, it was so ordered.                                                                              
                                                                                                                                
9:04:20 AM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
9:06:39 AM                                                                                                                    
RECONVENED                                                                                                                      
                                                                                                                                
Co-Chair  MacKinnon discussed  the  following day's  agenda.                                                                    
She stated that there was work on amendments for SB 39.                                                                         
                                                                                                                                
SB  30  was REPORTED  out  of  committee  with a  "do  pass"                                                                    
recommendation and  with a new  fiscal impact note  from the                                                                    
Department of Natural Resources.                                                                                                
                                                                                                                                
ADJOURNMENT                                                                                                                   
9:07:38 AM                                                                                                                    
                                                                                                                                
The meeting was adjourned at 9:07 a.m.