Legislature(1997 - 1998)
1997-03-05 Senate Journal
Full Journal pdf1997-03-05 Senate Journal Page 0576 SB 84 SENATE BILL NO. 84 An Act relating to fiscal management of endowment assets of the University of Alaska; amending the definition of university receipts to include distribution from university endowments and the total return from the University of Alaskas endowment trust fund for land obtained under the Act of 1997-03-05 Senate Journal Page 0577 SB 84 Congress of January 21, 1929, as amended, and transferring responsibility for management and investment of those assets; and making technical amendments to provisions relating to federal grants and appropriations from federal land grant college fund sources that must be paid to the state was read the second time. Senator Kelly moved and asked unanimous consent that he be shown as a cosponsor on the bill. Without objection, it was so ordered. Senator Adams offered Amendment No. 1 : Page 1, line 6, following "assets;": Delete "and" Page 1, line 8, following "state": Insert "; and affirming that the Board of Regents and officers of the University of Alaska may not expend university receipts without legislative appropriation" Page 1, following line 9: Insert a new bill section to read: "* Section 1. AS14.40.170(b) is amended to read: (b) The Board of Regents may (1) adopt reasonable rules, orders, and plans with reasonable penalties for the good government of the university and for the regulation of the Board of Regents; (2) determine and regulate the course of instruction in the university with the advice of the president; (3) set student tuition and fees; (4) receive ªAND SPENDß university receipts and, subject to legislative appropriation, expend university receipts in accordance with AS37.07 (Executive Budget Act)." Page 1, line 10: Delete "Section 1." Insert "Sec. 2." 1997-03-05 Senate Journal Page 0578 SB 84 Renumber the following bill sections accordingly. Page 3, line 5: Delete "may" Insert "shall" Page 5, lines 21 - 22: Delete "1, 2, 5 - 9, and 13" Insert "2, 3, 6 - 10, and 14" Senator Adams moved for the adoption of Amendment No. 1. Senator Kelly objected. The question being: Shall Amendment No. 1 be adopted? The roll was taken with the following result: SB 84 Second Reading Amendment No. 1 YEAS: 8 NAYS: 12 EXCUSED: 0 ABSENT: 0 Yeas: Adams, Duncan, Ellis, Hoffman, Lincoln, Pearce, Phillips, Taylor Nays: Donley, Green, Halford, Kelly, Leman, Mackie, Miller, Parnell, Sharp, Torgerson, Ward, Wilken and so, Amendment No. 1 failed. Senator Taylor moved and asked unanimous consent that the bill be considered engrossed, advanced to third reading and placed on final passage. Without objection, it was so ordered. SENATE BILL NO. 84 was read the third time. 1997-03-05 Senate Journal Page 0579 SB 84 The question being: Shall SENATE BILL NO. 84 An Act relating to fiscal management of endowment assets of the University of Alaska; amending the definition of university receipts to include distribution from university endowments and the total return from the University of Alaskas endowment trust fund for land obtained under the Act of Congress of January 21, 1929, as amended, and transferring responsibility for management and investment of those assets; and making technical amendments to provisions relating to federal grants and appropriations from federal land grant college fund sources that must be paid to the state pass the Senate? The roll was taken with the following result: SB 84 Third Reading - Final Passage YEAS: 19 NAYS: 1 EXCUSED: 0 ABSENT: 0 Yeas: Adams, Duncan, Ellis, Green, Halford, Hoffman, Kelly, Leman, Lincoln, Mackie, Miller, Parnell, Pearce, Phillips, Sharp, Taylor, Torgerson, Ward, Wilken Nays: Donley and so, SENATE BILL NO. 84 passed the Senate. Senator Adams gave notice of reconsideration.