1993-02-15                     House Journal                      Page 0346
HB 156                                                                       
HOUSE BILL NO. 156 by the House Rules Committee by request of                  
the Governor, entitled:                                                        
                                                                               
"An Act relating to the use of money in the Alaska debt retirement            
fund; changing the name of the Alaska debt retirement fund to the              
Alaska public schools and public facilities fund; and providing for            
an effective date."                                                            
                                                                               
was read the first time and referred to the Health, Education & Social         
Services, Judiciary and Finance Committees.                                    
                                                                               
The following fiscal note applies to HB 156:                                   
                                                                               
Zero fiscal note, Dept. of Revenue, 2/15/93                                    
                                                                               
The Governor's transmittal letter, dated February 15, 1993, appears            
below:                                                                         
                                                                               
"Dear Speaker Barnes:                                                          
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution, I am     
transmitting a bill changing the statutory provision establishing the          
Alaska debt retirement fund.  This fund was established by the                 
legislature in 1991 as a mechanism to ensure a long-term source of             
money for the debt service obligations of the state and local                  
governments, and to strengthen and add to the economy of the state             
(ch. 87, SLA 1991).  The statutory fund currently consists of all money        
appropriated to it.                                                            

1993-02-15                     House Journal                      Page 0347
HB 156                                                                       
Section 1 of the bill expands the uses of money in the fund to include         
maintenance of capital projects.  It also reorders the priorities regarding    
those uses to allow construction projects to be given an equal                 
importance with other specified uses.  The bill also changes the name          
of the fund.                                                                   
                                                                               
This bill will finance responsible expansion and maintenance of the            
state's infrastructure, including schools, and enhance the viability and       
competitiveness of Alaska's industries.                                        
                                                                               
I urge your support for this bill.                                             
                                                                               
          Sincerely,                                                           
          /s/                                                                  
          Walter J. Hickel                                                     
          Governor"