2018-05-07                     House Journal                      Page 3588
HB 119                                                                                                                        
The Finance Committee considered:                                                                                               
                                                                                                                                
    HOUSE BILL NO. 119                                                                                                          
    "An Act relating to the dividends from the Alaska Industrial                                                                
    Development and Export Authority; relating to the meaning of                                                                

2018-05-07                     House Journal                      Page 3589
    'mark-to-market fair value,' 'net income,' 'project or development,'                                                        
    and 'unrestricted net income' for purposes of the Alaska Industrial                                                         
    Development and Export Authority; and providing for an effective                                                            
    date."                                                                                                                      
                                                                                                                                
and recommends it be replaced with:                                                                                             
                                                                                                                                
    CS FOR HOUSE BILL NO. 119(FIN)                                                                                              
    "An Act relating to a mandatory exemption from municipal                                                                    
    property taxes for certain assets of the Alaska Industrial                                                                  
    Development and Export Authority; relating to dividends from the                                                            
    Alaska Industrial Development and Export Authority; relating to                                                             
    the meanings of 'mark-to-market fair value,' 'net income,' 'project                                                         
    or development,' and 'unrestricted net income' for purposes of the                                                          
    Alaska Industrial Development and Export Authority; and                                                                     
    providing for an effective date."                                                                                           
                                                                                                                                
The report was signed by Representatives Seaton and Foster, Co-                                                                 
chairs, with the following individual recommendations:                                                                          
                                                                                                                                
Do pass (5):  Gara, Pruitt, Stutes (alternate), Ortiz, Foster                                                                   
                                                                                                                                
No recommendation (1):  Guttenberg                                                                                              
                                                                                                                                
Amend (5):  Wilson, Kawasaki, Tilton, Thompson, Seaton                                                                          
                                                                                                                                
The following fiscal note(s) apply to CSHB 119(FIN):                                                                            
                                                                                                                                
2. Zero, Dept. of Commerce, Community, & Economic                                                                               
 Development                                                                                                                    
3. Zero, Dept. of Education & Early Development                                                                                 
4. Fiscal, Dept. of Education & Early Development/Fund                                                                          
 Capitalization                                                                                                                 
                                                                                                                                
HB 119 is on today's calendar.