00                       CS FOR HOUSE BILL NO. 112(FIN)                                                                    
01 "An Act relating to the authority of the Alaska Industrial Development and Export                                       
02 Authority to issue bonds and to a municipal tax exemption for certain assets and                                        
03 projects of the Alaska Industrial Development and Export Authority; and providing for                                   
04 an effective date."                                                                                                     
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1.  AS 44.88.095(g) is amended to read:                                                                  
07            (g)  Before July 1, 2007 [2003], the authority may issue bonds in an amount                              
08       greater than $10,000,000 to assist in the financing of a development project under                                
09       AS 44.88.172 - 44.88.177 only with legislative approval.  Beginning July 1, 2007                              
10       [2003], and thereafter, without prior legislative approval, the authority may not issue                           
11       bonds, except refunding and conduit revenue bonds.                                                                
12    * Sec. 2.  Sections 3 and 19, ch. 117, SLA 2000, are repealed.                                                     
13    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).