Legislature(2017 - 2018)

2018-02-09 Senate Journal

Full Journal pdf

2018-02-09                     Senate Journal                      Page 1965
SB 178                                                                                                                        
SENATE BILL NO. 178 BY THE SENATE RULES COMMITTEE                                                                               
BY REQUEST OF THE GOVERNOR, entitled:                                                                                           
          "An Act repealing the Alaska BIDCO Assistance                                                                         
          program and repealing requirements for an annual                                                                      
          examination of a BIDCO by the Department of                                                                           
          Commerce, Community, and Economic                                                                                     
was read the first time and referred to the Labor and Commerce and                                                              
Finance Committees.                                                                                                             
The following fiscal information was published today:                                                                           
 Fiscal Note No. 1, zero, Department of Commerce, Community                                                                     
 and Economic Development                                                                                                       
Governor's transmittal letter dated February 8:                                                                                 
Dear President Kelly:                                                                                                           
Under the authority of Article III, Section 18, of the Alaska                                                                   
Constitution, I am transmitting a bill that would repeal the BIDCO                                                              
loan assistance program.                                                                                                        
A "BIDC" is a person licensed by the Department of Commerce,                                                                    
Community, and Economic Development to provide financial and                                                                    
management assistance to businesses. Under current law, the                                                                     
Department is required to examine a BIDCO annually and the cost for                                                             
these examinations borne by the BIDCO. This bill would remove the                                                               
requirement for an annual examination of a BIDCO, but continue to                                                               
allow the Department to examine a BIDCO at any time. Repealing the                                                              
annual schedule while leaving in place the ability to conduct these                                                             
examinations when necessary to protect the public while removing                                                                
unnecessary, burdensome, and costly requirements.                                                                               

2018-02-09                     Senate Journal                      Page 1966
The bill would also repeal the BIDCO assistance program (AS 37.17),                                                             
including the Alaska BIDCO fund. The assistance program has not                                                                 
been funded, since it has not been used, and is unnecessary and should                                                          
be repealed.                                                                                                                    
I urge your prompt and favorable action on this measure.                                                                        
Bill Walker