2006-05-02                     House Journal                      Page 3485
HB 381                                                                                            
The Finance Committee has considered:                                                               
                                                                                                    
    HOUSE BILL NO. 381                                                                              
    "An Act relating to the financing of construction, major                                        
    maintenance, and renovation of facilities for the University of                                 
    Alaska; relating to the financing of construction of a correctional                             
    facility; authorizing the commissioner of revenue to sell the right                             

2006-05-02                     House Journal                      Page 3486
    to receive a portion of the anticipated revenue from a tobacco                                  
    litigation settlement to the Northern Tobacco Securitization                                    
    Corporation, with the proceeds of that sale to finance construction,                            
    major maintenance, and renovation of facilities for the University                              
    of Alaska and to finance the construction of a correctional facility;                           
    providing for the establishment of funds for deposit of those                                   
    proceeds; authorizing the issuance of bonds by the Northern                                     
    Tobacco Securitization Corporation for the purpose of acquiring                                 
    the right to receive a portion of anticipated revenue from a tobacco                            
    litigation settlement; and providing for an effective date."                                    
                                                                                                    
and recommends it be replaced with:                                                                 
                                                                                                    
    CS FOR HOUSE BILL NO. 381(FIN)                                                                  
    "An Act relating to the financing of construction, major                                        
    maintenance, and renovation of certain capital projects;                                        
    authorizing the commissioner of revenue to sell the right to                                    
    receive a portion of the anticipated revenue from a tobacco                                     
    litigation settlement to the Northern Tobacco Securitization                                    
    Corporation, and relating to that sale and the use of the revenue;                              
    authorizing the Northern Tobacco Securitization Corporation to                                  
    issue bonds and use the proceeds to acquire the right to receive a                              
    portion of anticipated revenue from a tobacco litigation settlement                             
    and for other purposes, and relating to those bonds; and providing                              
    for an effective date."                                                                         
                                                                                                    
The report was signed by Representatives Meyer and Chenault, Co-                                    
chairs, with the following individual recommendations:                                              
                                                                                                    
Do pass (6):  Weyhrauch, Holm, Stoltze, Kelly, Meyer, Chenault                                      
                                                                                                    
No recommendation (3):  Moses, Joule, Kerttula                                                      
                                                                                                    
The following fiscal note(s) apply to CSHB 381(FIN):                                                
                                                                                                    
1.  Zero, Dept. of Administration                                                                   
                                                                                                    
HB 381 is on today's calendar.