Legislature(2017 - 2018)
2018-05-11 Senate Journal
Full Journal pdf2018-05-11 Senate Journal Page 3071 HB 331 CS FOR HOUSE BILL NO. 331(FIN) "An Act establishing the Alaska Tax Credit Certificate Bond Corporation; relating to the issuance of bonds by the Alaska Tax Credit Certificate Bond Corporation; relating to purchases of tax credit certificates and refunds and payments of tax credits; relating to the oil and gas tax credit fund; relating to overriding royalty interest agreements; providing for an effective date by repealing the effective date of secs. 2, 5, 8, 10, 31, 37, and 40, ch. 3, SSSLA 2017; and providing for an effective date" was read the third time. Senator Wielechowski moved the bill be returned to second reading for all amendments offered today. Without objection, the bill was returned to second reading. Senator Wielechowski offered Amendment No. 1 : Page 8, lines 12 - 19: Delete all material. Senator Wielechowski moved for the adoption of Amendment No. 1. Senator Micciche objected. The question being: "Shall Amendment No. 1 be adopted?" The roll was taken with the following result: CSHB 331(FIN) Second Reading Amendment No. 1? 2018-05-11 Senate Journal Page 3072 YEAS: 5 NAYS: 14 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 1 failed. Senator Wielechowski offered Amendment No. 2 : Page 1, line 1: Delete "Tax Credit Certificate" Page 1, line 2: Delete "Tax Credit Certificate" Page 1, line 9: Delete "Tax Credit Certificate" Page 1, line 13: Delete "Tax Credit Certificate" Page 2, line 1: Delete "Tax Credit Certificate" Page 2, line 2: Delete "Tax Credit Certificate" Page 2, line 4: Delete "purpose of the corporation is" Insert "purposes of the corporation are to finance capital improvements, to finance housing loans for veterans, and" Page 2, line 20, following "financing": Insert "capital improvements, housing loans to veterans, and" Page 2, line 22, following "may": Insert ", subject to appropriation," 2018-05-11 Senate Journal Page 3073 Page 2, line 24, following "AS 43.55.028": Insert "or for capital improvements, the commissioner of commerce, community, and economic development for housing loans to veterans under AS 26.15, or the Alaska Housing Finance Corporation for housing loans to veterans under AS 18.56" Page 3, line 12: Delete "Tax Credit Certificate" Page 3, line 27: Delete "for disbursement to" Insert "subject to appropriation, for capital improvements, for disbursement to the commissioner of commerce, community, and economic development for housing loans to veterans under AS 26.15, the Alaska Housing Finance Corporation for housing loans to veterans under AS 18.56, or" Page 4, line 6, following the first occurrence of "for": Insert ", subject to appropriation, capital improvements, disbursement to the commissioner of commerce, community, and economic development for housing loans to veterans under AS 26.15, the Alaska Housing Finance Corporation for housing loans to veterans under AS 18.56, or" Page 8, line 28: Delete "Tax Credit Certificate" Page 9, line 6: Delete "Tax Credit Certificate" Page 9, line 13: Delete "Tax Credit Certificate" Page 9, line 23: Delete "Tax Credit Certificate" Page 10, line 2: Delete "Tax Credit Certificate" Page 12, line 8: Delete "Tax Credit Certificate" 2018-05-11 Senate Journal Page 3074 Page 16, line 26: Delete "Tax Credit Certificate" Page 16, line 31, through page 17, line 1: Delete "Tax Credit Certificate" Page 17, line 2: Delete "Tax Credit Certificate" Page 17, line 17: Delete "Tax Credit Certificate" Page 19, lines 12 - 13: Delete "tax credit certificate" Senator Wielechowski moved for the adoption of Amendment No. 2. Senator Micciche objected. The question being: "Shall Amendment No. 2 be adopted?" The roll was taken with the following result: CSHB 331(FIN) Second Reading Amendment No. 2? YEAS: 6 NAYS: 13 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Giessel, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 2 failed. Senator Giessel moved and asked unanimous consent the Senate rescind its previous action in failing Amendment No. 2. Without objection, Amendment No. 2 was before the Senate. The question being: "Shall Amendment No. 2 be adopted?" The roll was taken with the following result: 2018-05-11 Senate Journal Page 3075 CSHB 331(FIN) Second Reading Amendment No. 2? YEAS: 5 NAYS: 14 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 2 failed. Senator Wielechowski offered Amendment No. 3 : Page 1, line 1: Delete "Tax Credit Certificate" Page 1, line 2: Delete "Tax Credit Certificate" Page 1, line 9: Delete "Tax Credit Certificate" Page 1, line 13: Delete "Tax Credit Certificate" Page 2, line 1: Delete "Tax Credit Certificate" Page 2, line 2: Delete "Tax Credit Certificate" Page 2, line 4: Delete "purpose of the corporation is" Insert "purposes of the corporation are to finance permanent fund dividends and" Page 2, line 20, following "financing": Insert "permanent fund dividends and" 2018-05-11 Senate Journal Page 3076 Page 2, line 22, following "may": Insert ", subject to appropriation," Page 2, line 24, following "AS 43.55.028": Insert "or for deposit into the dividend fund established under AS 43.23.045 for the payment of permanent fund dividends under AS 43.23" Page 2, line 28, following "financing": Insert "(1)" Page 2, line 30, following "$1,000,000,000": Insert "; (2) permanent fund dividends may not exceed $1,500,000,000" Page 3, line 12: Delete "Tax Credit Certificate" Page 3, line 25: Delete "solely" Page 3, line 27, following "or": Insert ", subject to appropriation," Page 3, line 28, following "AS 43.55.028": Insert "or for deposit into the dividend fund established under AS 43.23.045 for the payment of permanent fund dividends under AS 43.23" Page 4, line 6, following the first occurrence of "for": Insert ", subject to appropriation, deposit into the dividend fund established under AS 43.23.045 for the payment of permanent fund dividends under AS 43.23 or" Page 8, line 28: Delete "Tax Credit Certificate" Page 9, line 6: Delete "Tax Credit Certificate" 2018-05-11 Senate Journal Page 3077 Page 9, line 13: Delete "Tax Credit Certificate" Page 9, line 23: Delete "Tax Credit Certificate" Page 10, line 2: Delete "Tax Credit Certificate" Page 10, following line 6: Insert a new bill section to read: "* Sec. 6. AS 43.23.045 is amended by adding a new subsection to read: (f) Each year that the legislature does not appropriate the amount calculated under AS 37.13.145(b) to the fund, the commissioner shall pay, from money deposited into the fund from the Alaska Bond Corporation established under AS 37.18.010, an additional amount to the permanent fund dividend for each eligible individual. The commissioner shall determine the additional amount under this subsection by subtracting the amount appropriated by the legislature to the fund from the amount calculated under AS 37.13.145(b) and dividing the difference between those amounts by the number of individuals eligible for a permanent fund dividend in that year." Renumber the following bill sections accordingly. Page 12, line 8: Delete "Tax Credit Certificate" Page 16, line 26: Delete "Tax Credit Certificate" Page 16, line 31, through page 17, line 1: Delete "Tax Credit Certificate" Page 17, line 2: Delete "Tax Credit Certificate" Page 17, line 17: Delete "Tax Credit Certificate" 2018-05-11 Senate Journal Page 3078 Page 19, lines 12 - 13: Delete "tax credit certificate" Senator Wielechowski moved for the adoption of Amendment No. 3. Senator Micciche objected. The question being: "Shall Amendment No. 3 be adopted?" The roll was taken with the following result: CSHB 331(FIN) Second Reading Amendment No. 3? YEAS: 5 NAYS: 14 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 3 failed. Senator Wielechowski offered Amendment No. 4 : Page 3, following line 3: Insert a new subsection to read: "(d) Failure of the corporation to pay the interest on and principal of bonds issued under this chapter may not impair the credit rating of the state. A bond issued under this chapter must state on its face that the failure of the corporation to pay the interest on and principal of bonds issued under this chapter does not impair the credit rating of the state." Reletter the following subsections accordingly. Page 5, line 5, following "state.": Insert "Failure of the legislature to make an appropriation described in this subsection may not impair the credit rating of the state." 2018-05-11 Senate Journal Page 3079 Senator Wielechowski moved for the adoption of Amendment No. 4. Senator Micciche objected. The question being: "Shall Amendment No. 4 be adopted?" The roll was taken with the following result: CSHB 331(FIN) Second Reading Amendment No. 4? YEAS: 5 NAYS: 14 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 4 failed. Senator Wielechowski offered Amendment No. 5 : Page 3, line 3, following "Alaska.": Insert "The bonds do not constitute a revenue bond of a public enterprise or public corporation within the meaning of art. IX, sec. 11, Constitution of the State of Alaska." Page 7, line 15, following "Alaska.": Insert "The refunding bonds do not constitute a revenue bond of a public enterprise or public corporation within the meaning of art. IX, sec. 11, Constitution of the State of Alaska." Senator Wielechowski moved for the adoption of Amendment No. 5. Senator Micciche objected. The question being: "Shall Amendment No. 5 be adopted?" The roll was taken with the following result: CSHB 331(FIN) Second Reading Amendment No. 5? 2018-05-11 Senate Journal Page 3080 YEAS: 5 NAYS: 14 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 5 failed. Senator Wielechowski offered Amendment No. 6 : Page 1, line 1: Delete "establishing the Alaska Tax Credit Certificate Bond Corporation" Insert "relating to the issuance and sale of bonds for the purpose of financing purchase of certain transferable tax credit certificates and production tax credit certificates and to pay certain other refunds and payments" Page 1, line 2: Delete "Alaska Tax Credit Certificate Bond Corporation" Insert "Department of Revenue" Page 1, lines 9 - 10: Delete all material and insert: "(49) contracts of the Department of Revenue related to Alaska tax credit certificate bonds under AS 37.18.010 - 37.18.100;" Page 1, line 13: Delete "Bond Corporation" Insert "Bonds" Page 2, lines 1 - 17: Delete all material. Page 2, line 18: Delete "Sec. 37.18.030" Insert "Sec. 37.18.010" Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3081 Page 2, line 19: Delete "corporation" Insert "Department of Revenue" Page 2, line 23: Delete "of revenue" Page 2, line 25: Delete "corporation" Insert "department" Page 2, line 28: Delete "corporation" Insert "department" Page 2, line 31, through page 3, line 3: Delete all material. Reletter the following subsections accordingly. Page 3, line 4: Delete "corporation" Insert "department" Page 3, line 6: Delete "corporation" Insert "department" Page 3, line 11: Delete "Sec. 37.18.040" Insert "Sec. 37.18.020" Delete "corporation" Insert "department" Page 3, line 12: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" Page 3, line 18: Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3082 Page 3, line 19: Delete "corporation" Insert "department" Page 3, line 23: Delete "corporation" Insert "department" Page 3, line 26: Delete "corporation" Insert "department" Page 3, line 28: Delete "of revenue" Page 4, line 2: Delete "corporation" Insert "department" Page 4, line 3: Delete "corporation" Insert "department" Page 4, line 6: Delete "corporation" Insert "department" Delete "of revenue" Page 4, line 8: Delete "corporation" Insert "department" Page 4, line 11: Delete "AS 37.10.070" Insert "AS 37.10.050" Delete "corporation" Insert "department" Page 4, line 15: Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3083 Page 4, line 17: Delete "corporation" Insert "department" Page 4, line 20: Delete "corporation" Insert "department" Page 4, line 24: Delete "corporation" Insert "department"' Page 4, line 26: Delete "corporation" Insert "department" Page 4, line 29: Delete "corporation" Insert "department" Page 4, line 30: Delete "chair of the corporation" Insert "commissioner" Page 5, line 1: Delete "chair" Insert "commissioner" Page 5, line 3: Delete "and paid" Delete "corporation" Insert "department" Page 5, lines 4 - 5: Delete "Nothing in this subsection creates a debt or liability of the state." Page 5, line 7: Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3084 Page 5, line 9: Delete "of revenue" Page 5, line 10: Delete "the corporation for deposit to" Page 5, line 12: Delete "may be agreed on" Insert "are approved" Page 5, lines 12 - 13: Delete "of revenue and the corporation" Page 5, line 14: Delete "corporation" Insert "department" Page 5, line 18: Delete "corporation" Insert "department" Page 5, line 19: Delete "Sec. 37.18.050" Insert "Sec. 37.18.030" Page 5, line 21: Delete "corporation" Insert "department" Page 5, line 22: Delete "corporation" Insert "department" Page 5, line 23: Delete "corporation" Insert "department" Page 5, line 25: Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3085 Page 5, line 27: Delete "corporation" Insert "department" Page 5, line 28: Delete "corporation" Insert "department" Page 5, line 30: Delete "corporation" Insert "department" Page 5, line 31: Delete "corporation" Insert "department" Page 6, line 2: Delete "corporation" in both places Insert "department" in both places Page 6, line 6: Delete "corporation" in both places Insert "department" in both places Page 6, line 10: Delete "corporation" in both places Insert "department" in both places Page 6, line 14: Delete "corporation" Insert "department" Page 6, line 17: Delete "corporation" Insert "department" Page 6, line 19: Delete "Sec. 37.18.060" Insert "Sec. 37.18.040" Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3086 Page 6, line 25: Delete "corporation" Insert "department" Page 6, line 26: Delete "Sec. 37.18.070" Insert "Sec. 37.18.050" Page 7, line 4: Delete "Sec. 37.18.080" Insert "Sec. 37.18.060" Page 7, line 5: Delete "AS 37.18.030" Insert "AS 37.18.010" Page 7, line 6: Delete "corporation" Insert "department" Page 7, line 8: Delete "Sec. 37.18.090" Insert "Sec. 37.18.070" Delete "corporation" Insert "department" Page 7, line 10: Delete "corporation" in both places Insert "department" in both places Page 7, line 11: Delete "corporation" Insert "department" Page 7, line 15: Delete "corporation" Insert "department" Page 7, line 28: Delete "corporation" Insert "department" 2018-05-11 Senate Journal Page 3087 Page 8, line 2: Delete "corporation" Insert "department" Page 8, line 5: Delete "corporation" Insert "department" Page 8, line 6: Delete "Sec. 37.18.100" Insert "Sec. 37.18.080" Page 8, line 12: Delete "Sec. 37.18.110" Insert "Sec. 37.18.090" Page 8, line 16: Delete "corporation" Insert "department" Page 8, line 20: Delete "Sec. 37.18.170" Insert "Sec. 37.18.093" Page 8, line 22: Delete "Sec. 37.18.180" Insert "Sec. 37.18.095" Delete "corporation" Insert "department" Page 8, line 24: Delete "Sec. 37.18.190" Insert "Sec. 37.18.100" Page 8, line 26: Delete "corporation" Insert "department" Delete "AS 37.18.060" Insert "AS 37.18.040" 2018-05-11 Senate Journal Page 3088 Page 8, lines 28 - 29: Delete all material and insert: "(3) "commissioner" means the commissioner of revenue;" Page 9, following line 5: Insert a new paragraph to read: "(5) "department" means the Department of Revenue;" Renumber the following paragraph accordingly. Page 9, lines 6 - 7: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" Page 9, line 7: Delete "AS 37.18.040" Insert "AS 37.18.020" Page 9, line 13: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" Page 9, line 14: Delete "AS 37.18.040" Insert "AS 37.18.020" Page 9, line 23: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" Page 9, line 24: Delete "AS 37.18.040" Insert "AS 37.18.020" Page 10, line 2: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" 2018-05-11 Senate Journal Page 3089 Page 10, line 3: Delete "AS 37.18.040" Insert "AS 37.18.020" Page 12, lines 8 - 9: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" Page 12, line 9: Delete "AS 37.18.040" Insert "AS 37.18.020" Page 12, line 13: Delete "AS 37.18" Insert "AS 37.18.010 - 37.18.100" Page 16, lines 26 - 27: Delete "Alaska Tax Credit Certificate Bond Corporation established under AS 37.18.010" Insert "department" Page 16, line 31, through page 17, line 1: Delete "Alaska Tax Credit Certificate Bond Corporation" Insert "department" Page 17, line 2: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond " Page 17, line 3: Delete "AS 37.18.040(g)" Insert "AS 37.18.020(g)" Page 17, line 6: Delete "by the corporation" Page 17, line 17: Delete "Tax Credit Certificate Bond Corporation" Insert "tax credit certificate bond" 2018-05-11 Senate Journal Page 3090 Page 17, line 18: Delete "AS 37.18.040" Insert "AS 37.18.020" Page 19, line 13: Delete "corporation" Delete "AS 37.18.040" Insert "AS 37.18.020" Page 19, line 25: Delete "AS 37.18.010 - 37.18.190" Insert "AS 37.18.010 - 37.18.100" Page 19, line 27: Delete "AS 37.18.010 - 37.18.190" Insert "AS 37.18.010 - 37.18.100" Page 19, line 28: Delete "AS 37.18.010 - 37.18.190" Insert "AS 37.18.010 - 37.18.100" Senator Wielechowski moved for the adoption of Amendment No. 6. Senator MacKinnon objected. The question being: "Shall Amendment No. 6 be adopted?" The roll was taken with the following result: CSHB 331(FIN) Second Reading Amendment No. 6? YEAS: 5 NAYS: 14 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Egan, Gardner, Olson, Wielechowski Nays: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Shower, Stevens, von Imhof, Wilson Excused: Stedman and so, Amendment No. 6 failed. CS FOR HOUSE BILL NO. 331(FIN) was automatically in third reading. 2018-05-11 Senate Journal Page 3091 The question being: "Shall CS FOR HOUSE BILL NO. 331(FIN) "An Act establishing the Alaska Tax Credit Certificate Bond Corporation; relating to the issuance of bonds by the Alaska Tax Credit Certificate Bond Corporation; relating to purchases of tax credit certificates and refunds and payments of tax credits; relating to the oil and gas tax credit fund; relating to overriding royalty interest agreements; providing for an effective date by repealing the effective date of secs. 2, 5, 8, 10, 31, 37, and 40, ch. 3, SSSLA 2017; and providing for an effective date" pass the Senate?" The roll was taken with the following result: CSHB 331(FIN) Third Reading - Final Passage YEAS: 14 NAYS: 5 EXCUSED: 1 ABSENT: 0 Yeas: Bishop, Coghill, Costello, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Olson, Stevens, von Imhof, Wilson Nays: Begich, Egan, Gardner, Shower, Wielechowski Excused: Stedman and so, CS FOR HOUSE BILL NO. 331(FIN) passed the Senate. Senator Micciche moved and asked unanimous consent the vote on the passage of the bill be considered the vote on the effective date clause. Senator Gardner objected. The question being: "Shall the effective date clause be adopted?" The roll was taken with the following result: CSHB 331(FIN) Effective Date Clause YEAS: 18 NAYS: 1 EXCUSED: 1 ABSENT: 0 Yeas: Begich, Bishop, Coghill, Costello, Egan, Giessel, Hoffman, Hughes, Kelly, MacKinnon, Meyer, Micciche, Olson, Shower, Stevens, von Imhof, Wielechowski, Wilson Nays: Gardner Excused: Stedman 2018-05-11 Senate Journal Page 3092 and so, the effective date clause was adopted and the bill was signed by the President and Secretary and returned to the House.