Legislature(2003 - 2004)
2003-05-12 Senate Journal
Full Journal pdf2003-05-12 Senate Journal Page 1345 HB 203 HOUSE BILL NO. 203 "An Act relating to the definitions of 'net income' and 'unrestricted net income' for purposes of calculating the dividends to be paid to the state by the Alaska Industrial Development and Export Authority; and providing for an effective date" was read the third time. 2003-05-12 Senate Journal Page 1346 Senator French 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. Senator French offered Amendment No. 1 : Page 1, line 3, following "Authority;": Insert "relating to appropriations of the dividends to the Alaska Science and Technology Foundation;" Page 1, following line 4: Insert a new bill section to read: "* Section 1. AS 44.88.088(a) is amended to read: (a) The authority shall adopt a policy for payment of a dividend to the state each fiscal year. The amount of the dividend for a fiscal year may not be less than 25 percent nor more than 50 percent of the net income of the authority for the base fiscal year. In no event, however, shall the dividend for a fiscal year exceed the total unrestricted net income of the authority for the base fiscal year. The dividend for a fiscal year shall be made available by the authority before the end of that fiscal year. The authority shall notify the commissioner of revenue when the dividend for a fiscal year is available for appropriation. Each fiscal year, an amount equal to $5,000,000 or 25 percent of the dividend, whichever is greater, may be appropriated to the Alaska Science and Technology Foundation for payment as grants under AS 37.17.010 - 37.17.110 and AS 37.17.225." Page 1, line 5: Delete "Section 1." Insert "Sec. 2." Renumber the following bill sections accordingly. Page 2, line 4: Delete "secs. 1 and 2" Insert "secs. 2 and 3" Senator French moved for the adoption of Amendment No. 1. Senator Green objected. 2003-05-12 Senate Journal Page 1347 The question being: "Shall Amendment No. 1 be adopted?" The roll was taken with the following result: HB 203 Second Reading Amendment No. 1 YEAS: 8 NAYS: 12 EXCUSED: 0 ABSENT: 0 Yeas: Davis, Ellis, Elton, French, Guess, Hoffman, Lincoln, Olson Nays: Bunde, Cowdery, Dyson, Green, Ogan, Seekins, Stevens B, Stevens G, Taylor, Therriault, Wagoner, Wilken and so, Amendment No. 1 failed. HOUSE BILL NO. 203 was automatically in third reading. The question being: "Shall HOUSE BILL NO. 203 "An Act relating to the definitions of 'net income' and 'unrestricted net income' for purposes of calculating the dividends to be paid to the state by the Alaska Industrial Development and Export Authority; and providing for an effective date" pass the Senate?" The roll was taken with the following result: HB 203 Third Reading - Final Passage Effective Date YEAS: 20 NAYS: 0 EXCUSED: 0 ABSENT: 0 Yeas: Bunde, Cowdery, Davis, Dyson, Ellis, Elton, French, Green, Guess, Hoffman, Lincoln, Ogan, Olson, Seekins, Stevens B, Stevens G, Taylor, Therriault, Wagoner, Wilken and so, HOUSE BILL NO. 203 passed the Senate. Senator Ben Stevens moved and asked unanimous consent that the vote on the passage of the bill be considered the vote on the effective date clause. Without objection, it was so ordered. Senator Ellis gave notice of reconsideration.