Legislature(1993 - 1994)
1994-04-22 House Journal
Full Journal pdf1994-04-22 House Journal Page 3664 SB 247 The Finance Committee has considered: CS FOR SENATE BILL NO. 247(2d FIN) "An Act making subject to prior legislative approval contracts entered into or renewed by the executive branch of state government, the legislative council, the Alaska Court System, and the University of Alaska for the lease of real property if the lease has an annual rent payable that is anticipated to exceed $500,000 or has total payments that exceed $2,500,000 for the term of the lease, including any renewal options that are defined in the lease; prohibiting these entities from entering into or renewing a lease of real property if any or all renewal periods in the lease exceed the original term of the lease; making subject to prior legislative approval lease-purchase agreements that may be entered into by these entities to acquire real property, other than lease-purchase agreements to refinance outstanding balances on existing 1994-04-22 House Journal Page 3665 SB 247 lease-purchase agreements and lease-purchase agreements secured by University of Alaska student fees and university receipts; authorizing these entities to enter into lease-purchase agreements only in the capacity of lessee under the proposed lease-purchase agreement; defining procedures that these entities must follow when considering whether or not to enter into lease-purchase agreements, and setting limits on the duration of these agreements; providing definitions for applicable terms; and providing for an effective date." and recommends it be replaced with the following committee substitute, with a new title pending authorization by HCR 36: HOUSE CS FOR CS FOR SENATE BILL NO. 247(FIN) "An Act making subject to prior legislative approval contracts entered into or renewed by the executive branch of state government, the legislative council, the Alaska Court System, and, with certain exceptions, the University of Alaska for the lease of real property if the lease has an annual rent payable that is anticipated to exceed $500,000 or has total payments that exceed $2,500,000 for the term of the lease, including any renewal options that are defined in the lease; prohibiting these entities from entering into or renewing a lease of real property if any or all renewal periods in the lease exceed the original term of the lease; making subject to prior legislative approval lease-purchase agreements that may be entered into by these entities to acquire real property, other than lease-purchase agreements to refinance outstanding balances on existing lease-purchase agreements and lease-purchase agreements secured by University of Alaska student fees and university receipts; authorizing these entities to enter into lease-purchase agreements only in the capacity of lessee under the proposed lease-purchase agreement; defining procedures that these entities must follow when considering whether or not to enter into lease-purchase agreements, setting limits on the duration of these agreements; providing definitions for applicable terms; and repealing a legislative authorization previously given for acquisition of a facility through a lease-purchase agreement; and providing for an effective date." The report was signed by Representatives Larson and MacLean, Co- chairs, with the following individual recommendations: 1994-04-22 House Journal Page 3666 SB 247 Do pass (6): Larson, Hanley, Martin, Parnell, Grussendorf, MacLean No recommendation (3): Brown, Hoffman, Navarre Amend (2): Therriault, Foster The following fiscal notes apply to HCS CSSB 247(FIN): Senate zero fiscal note, Legislative Affairs Agency, 1/24/94 Senate zero fiscal note, Dept. of Administration, 2/2/94 SB 247 was referred to the Rules Committee for placement on the calendar.