Legislature(2003 - 2004)
2003-05-12 Senate Journal
Full Journal pdf2003-05-12 Senate Journal Page 1340 HB 11 HOUSE BILL NO. 11 "An Act relating to deposits to the Alaska permanent fund from mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), federal mineral revenue sharing payments received by the state from mineral leases, and bonuses received by the state from mineral leases, and limiting deposits from those sources to the 25 percent required under art. IX, sec. 15, Constitution of the State of Alaska; and providing for an effective date" was read the third time. Senator Taylor moved and asked unanimous consent that the bill be returned to second reading for the purpose of a specific amendment, that being Amendment No. 1. Without objection, the bill was returned to second reading. 2003-05-12 Senate Journal Page 1341 Senator Taylor offered Amendment No. 1 : Page 2, following line 1: Insert a new bill section to read: "* Sec. 2. AS 37.05.550(b) is amended to read: (b) The legislature may appropriate to the fund money received by the state as Alaska marine highway system program receipts or from a settlement or final judicial determination of the Dinkum Sands case (United States v. Alaska) and the North Slope royalty case (State v. Amerada Hess, et al.) and not deposited into the Alaska permanent fund under AS 37.13.010(a)(1) or (2) or into the public school trust fund under AS 37.14.150." Renumber the following bill sections accordingly. Page 2, line 20: Delete all material and insert: "* Sec. 4. AS 37.13.010(a) is amended to read: (a) Under art. IX, sec. 15 of the state constitution, there is established as a separate fund the Alaska permanent fund. The Alaska permanent fund consists of (1) 25 percent of all mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), and [25 PERCENT OF] federal mineral revenue sharing payments received by the state from mineral leases issued on or before December 1, 1979, and 25 percent of all bonuses received by the state from mineral leases issued on or before February 15, 1980; [AND] (2) 50 percent of all mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), and federal mineral revenue sharing payments received by the state from mineral leases issued after December 1, 1979, and 50 percent of all bonuses received by the state from mineral leases issued after February 15, 1980; and (3) any other money appropriated to or otherwise allocated by law or former law to the Alaska permanent fund. * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to read: CONDITIONAL EFFECT OF SECTIONS 2 AND 4. (a) Before October 1 of each year, the commissioner of revenue shall calculate the amount by which each permanent fund dividend is 2003-05-12 Senate Journal Page 1342 reduced as a result of the amendment to AS 37.13.010(a) in sec. 3 of this Act when compared to what the amount of each dividend would have been for that year had the amendment to AS 37.13.010(a) in sec. 3 of this Act not taken effect. If the amount of that reduction is equal to or greater than $20, secs. 2 and 4 of this Act take effect. (b) The calculation under this section shall take into account the change in deposits to the Alaska permanent fund that resulted from the amendment to AS 37.13.010(a) in sec. 3 of this Act for the period beginning on the effective date of that amendment through June 30 of the year the calculation is being made. * Sec. 6. Sections 1, 3, and 5 of this Act take effect immediately under AS 01.10.070(c). * Sec. 7. If secs. 2 and 4 of this Act take effect under sec. 5 of this Act, they take effect on October 1 of the year in which the commissioner of revenue determines that, as a result of the amendment to AS 37.13.010(a) in sec. 3 of this Act, the value of the permanent fund dividend for that year has been reduced by at least $20. The commissioner of revenue shall promptly notify the revisor of statutes of the date secs. 2 and 4 of this Act take effect." Senator Taylor moved for the adoption of Amendment No. 1. Senator Elton objected. The question being: "Shall Amendment No. 1 be adopted?" The roll was taken with the following result: HB 11 Second Reading Amendment No. 1 YEAS: 17 NAYS: 3 EXCUSED: 0 ABSENT: 0 Yeas: Bunde, Cowdery, Davis, Dyson, Ellis, Green, Guess, Hoffman, Ogan, Olson, Seekins, Stevens B, Stevens G, Taylor, Therriault, Wagoner, Wilken Nays: Elton, French, Lincoln and so, Amendment No. 1 was adopted. HOUSE BILL NO. 11 am S was automatically in third reading. 2003-05-12 Senate Journal Page 1343 The question being: "Shall HOUSE BILL NO. 11 am S "An Act relating to deposits to the Alaska permanent fund from mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), federal mineral revenue sharing payments received by the state from mineral leases, and bonuses received by the state from mineral leases, and limiting deposits from those sources to the 25 percent required under art. IX, sec. 15, Constitution of the State of Alaska; and providing for an effective date" pass the Senate?" The roll was taken with the following result: HB 11 am S Third Reading - Final Passage YEAS: 11 NAYS: 9 EXCUSED: 0 ABSENT: 0 Yeas: Bunde, Cowdery, Dyson, Green, Seekins, Stevens B, Stevens G, Taylor, Therriault, Wagoner, Wilken Nays: Davis, Ellis, Elton, French, Guess, Hoffman, Lincoln, Ogan, Olson and so, HOUSE BILL NO. 11 am S passed the Senate. Senator Ben Stevens moved for the adoption of the effective date clause. The question being: "Shall the effective date clause be adopted?" The roll was taken with the following result: HB 11 am S Effective Date Clause YEAS: 12 NAYS: 8 EXCUSED: 0 ABSENT: 0 Yeas: Bunde, Cowdery, Dyson, Green, Ogan, Seekins, Stevens B, Stevens G, Taylor, Therriault, Wagoner, Wilken Nays: Davis, Ellis, Elton, French, Guess, Hoffman, Lincoln, Olson and so, the effective date clause failed. Senator Wagoner gave notice of reconsideration on HOUSE BILL NO. 11 AM S(efd fld S) "An Act relating to deposits to the Alaska permanent fund from mineral lease rentals, royalties, royalty sale 2003-05-12 Senate Journal Page 1344 proceeds, net profit shares under AS 38.05.180(f) and (g), federal mineral revenue sharing payments received by the state from mineral leases, and bonuses received by the state from mineral leases, and limiting deposits from those sources to the 25 percent required under art. IX, sec. 15, Constitution of the State of Alaska."