2015-03-04                     House Journal                      Page 0364
The following fiscal note(s) apply:                                                                                             
                                                                                                                                
1.  Zero, Dept. of Administration                                                                                               
                                                                                                                                
                                                                                                                                
The Governor's transmittal letter dated March 3, 2015, follows:                                                                 
                                                                                                                                
                                                                                                                                
"Dear Speaker Chenault:                                                                                                         
                                                                                                                                
Under the authority of Article III, Section 18 of the Alaska                                                                    
Constitution, I am transmitting a bill relating to the establishment of a                                                       
Roth contribution program for the public employees' deferred                                                                    
compensation program.                                                                                                           
                                                                                                                                
Currently, AS 39.45.050 only allows deferred tax contributions to be                                                            
made on behalf of participating employees under the public                                                                      
employees' deferred compensation program (program). Deferred                                                                    
contributions are contributions that are not taxed until the participating                                                      
employee begins receiving benefits under the program. The bill would                                                            
allow Roth contributions in addition to deferred tax contributions.                                                             
Roth contributions are contributions made post-tax, thereby                                                                     
eliminating the tax liability at the time of retirement.                                                                        
                                                                                                                                
I urge your prompt and favorable action on this measure.                                                                        
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Bill Walker                                                                                                                     
Governor"                                                                                                                       
                                                                                                                                
                                                                                                                                
HB 136                                                                                                                        
HOUSE BILL NO. 136 by the House Finance Committee, entitled:                                                                    
                                                                                                                                
     "An Act relating to school bond debt reimbursement; and                                                                    
     providing for an effective date."                                                                                          
                                                                                                                                
was read the first time and referred to the Finance Committee.