04/12/2010 09:00 AM Senate FINANCE

CS FOR HOUSE BILL NO. 20(FIN)                                                                                                 
                                                                                                                                
     "An Act relating to commercial fishing loans for                                                                           
     energy efficiency upgrades and increasing the maximum                                                                      
     amount for certain loans under the Commercial Fishing                                                                      
     Loan Act; and providing for an effective date."                                                                            
                                                                                                                                
Co-Chair Hoffman  MOVED to ADOPT the  SCS for CS for  HB 20,                                                                    
labeled 26-LS0124\T,  Kane, 4/8/10, as the  working document                                                                    
before the committee.                                                                                                           
                                                                                                                                
Co-Chair Stedman OBJECTED. He  related that Version T limits                                                                    
the loans to engines and generators only.                                                                                       
                                                                                                                                
Co-Chair Stedman  WITHDREW his OBJECTION. He  noted that the                                                                    
SCS  amends   the  title  and  will   require  a  concurrent                                                                    
resolution.                                                                                                                     
                                                                                                                                
9:21:00 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  BRYCE EDGMON,  SPONSOR, explained  the bill.                                                                    
He said  the bill  puts the  Engine Efficiency  Loan Program                                                                    
created  in  2008 into  statute  and  broadens the  pool  of                                                                    
eligible fishers who can participate.  He explained that the                                                                    
bill pertains to Sections A  and B of the Commercial Fishing                                                                    
Loan Act. It  allows for low interest rate  loans for vessel                                                                    
upgrades. He  added that  the bill  relies on  proceeds from                                                                    
the fund  itself and requires  no general fund  dollars. The                                                                    
Division  of  Investments  says   it  is  possible  that  an                                                                    
additional  position  would be  required,  but  it would  be                                                                    
funded  by program  receipts or  by  the commercial  fishery                                                                    
revolving fund.                                                                                                                 
                                                                                                                                
Co-Chair Stedman noted that it  was the first hearing on the                                                                    
bill. He  highlighted one fiscal  note from   the Department                                                                    
of Commerce, Community, and Economic Development.                                                                               
                                                                                                                                
Co-Chair  Stedman pointed  out that  page 2,  line 4,  would                                                                    
need  a  correction.  He  wanted   to  be  sure  the  entire                                                                    
generator would be included where  it states "for propulsion                                                                    
engine or  generator engine". Representative Edgmon  said he                                                                    
would support that correction.                                                                                                  
                                                                                                                                
9:24:19 AM                                                                                                                    
                                                                                                                                
Senator Olson  asked about  the eligibility  of out-of-state                                                                    
permit    holders.   Representative    Edgmon   noted    two                                                                    
requirements;   Alaska   residency   for  two   years,   and                                                                    
demonstration of  participation in a commercial  fishery for                                                                    
two out of the last five years.                                                                                                 
                                                                                                                                
HB  20  was   heard  and  HELD  in   Committee  for  further                                                                    
consideration.                                                                                                                  
                                                                                                                                
9:26:03 AM