00                     CS FOR SENATE BILL NO. 207(L&C)                                                                    
01 "An Act relating to the membership on the board of directors of the Alaska Aerospace                                    
02 Development Corporation."                                                                                               
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 14.40.826(a) is amended to read:                                                                   
05            (a)  The powers and responsibilities of the corporation are vested in the board                              
06       of directors. The board of directors of the corporation consists of 11 [NINE] members                         
07       appointed by the governor as follows:                                                                             
08                 (1)  five [THREE] state residents who have a significant high level of                              
09       experience in the private business sector, specializing in financing or economic                                  
10       development or marketing; three of the state residents appointed under this                                   
11       paragraph shall be residents of the borough where the launch activities of the                                
12       corporation occur;                                                                                            
13                 (2)  the president or the designee of the president of the University of                                
14       Alaska;                                                                                                           

01                 (3)  the director or designee of the Geophysical Institute of the                                       
02       University of Alaska;                                                                                             
03                 (4)  the commissioner of commerce, community, and economic                                              
04       development or the commissioner's designee;                                                                       
05                 (5)  two members who have held or currently hold positions in the                                       
06       aerospace or commercial space industry or special experience regarding federal                                    
07       regulatory procedures and policies involving space or operational experience;                                     
08       members with aerospace experience may not exceed one; and                                                         
09                 (6)  a public school educator or a public member.                                                       
10    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
11 read:                                                                                                                   
12       TRANSITIONAL PROVISIONS: BOARD MEMBERS. (a) On or before the 90th                                                 
13 day following the day that this Act becomes law under AS 01.10.070, the governor shall                                  
14 appoint the two new members of the Alaska Aerospace Development Corporation board                                       
15 added by AS 14.40.826(a), as amended by sec. 1 of this Act; and the two new members shall                               
16 be residents of the borough where the launch activities of the corporation occur.                                       
17       (b)  Notwithstanding the term of four years established by AS 14.40.826(b), the term                              
18 of one member appointed under (a) of this section shall be two years, and the term of the other                         
19 member appointed under (a) of this section shall be four years.                                                         
20       (c)  Notwithstanding AS 14.40.826(a)(1), as amended by sec. 1 of this Act, a member                               
21 of the board of directors of the Alaska Aerospace Development Corporation on the effective                              
22 date of this Act who was appointed under AS 14.40.826(a)(1) may continue to hold the                                    
23 person's position, subject to removal as provided by law, until the person's term expires.