04/02/2008 09:00 AM Senate FINANCE

CS FOR HOUSE BILL NO. 61(FIN)                                                                                                 
                                                                                                                                
     "An Act relating  to tax credits for  cash contributions                                                                   
     by taxpayers  that are accepted for  certain educational                                                                   
     purposes,  including vocational  education programs  and                                                                   
     courses  at  the  secondary  school  level  and  to  tax                                                                   
     credits for  cash contributions  by tax payers  that are                                                                   
     accepted  by   a  state-operated  vocational   technical                                                                   
     education  and training  school;  and  providing for  an                                                                   
     effective date."                                                                                                           
                                                                                                                                
9:43:44 AM                                                                                                                    
                                                                                                                                
Co-Chair Stedman  informed the Committee that  the intent was                                                                   
to hear from the sponsor and take public testimony.                                                                             
                                                                                                                                
REX SHATTUCK,  STAFF, REPRESENTATIVE  MARK NEUMAN,  presented                                                                   
an  overview  of  the bill.  He  referred  to  the  committee                                                                   
substitute  version  M  that   incorporated  changes  brought                                                                   
forward in  the last meeting.  He remarked that  language was                                                                   
inserted  and removed.  In Section 43.20.14  language  in the                                                                   
income  tax  education  credit   was  removed.  Mr.  Shattuck                                                                   
mentioned two drafting errors  in the M version: Page 5, line                                                                   
10 read AS 34.20.014(e) should  read AS 43.20.014(e) and Page                                                                   
6, line 29 read AS 42.20.014(e)  should read AS 43.20.014(e).                                                                   
                                                                                                                                
9:46:59 AM                                                                                                                    
                                                                                                                                
Co-Chair  Stedman  noted the  drafting  errors  and asked  if                                                                   
there was any objection to revising  the committee substitute                                                                   
to clean-up these  changes. There being NO OBJECTION,  it was                                                                   
so ordered.                                                                                                                     
                                                                                                                                
Senator Thomas questioned  that as the bill  has changed over                                                                   
time was there  any impact on the existing two  and four year                                                                   
schools.                                                                                                                        
                                                                                                                                
9:47:15 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  MARK  NEUMAN   replied  that  there  were  no                                                                   
changes to current statutes.                                                                                                    
                                                                                                                                
9:47:53 AM                                                                                                                    
                                                                                                                                
Senator Huggins  believed this bill  to be an  innovative way                                                                   
to deal with vocational changes that can make a difference.                                                                     
                                                                                                                                
9:48:22 AM                                                                                                                    
                                                                                                                                
Senator  Elton  referred  to   his  local  high  school  home                                                                   
building program  that over  the last  several years  has won                                                                   
the national  championship three  times. A provision  such as                                                                   
this  bill  may   allow  the  local  business   community  to                                                                   
contribute even more to the program.                                                                                            
                                                                                                                                
9:48:55 AM                                                                                                                    
                                                                                                                                
Co-Chair Hoffman  MOVED to  REPORT SCS CSHB  61 (FIN)  out of                                                                   
Committee    with   individual    recommendations   and    an                                                                   
accompanying fiscal  note. There  being NO OBJECTION,  it was                                                                   
so ordered.                                                                                                                     
                                                                                                                                
SCS CSHB  61 (FIN) was REPORTED  out of Committee with  a "do                                                                   
pass"  recommendation and  an  accompanying new  accompanying                                                                   
fiscal note by the Department of Revenue.                                                                                       
                                                                                                                                
9:49:40 AM