05/15/1999 12:27 PM Senate JUD

                  HB  83-ALASKA SECURITIES ACT                                                                                  
                                                                                                                                
REPRESENTATIVE ROKEBERG informed committee members that this bill,                                                              
sponsored by the House Labor and Commerce Committee, was prompted                                                               
by a change in federal law.  Without passage of this legislation,                                                               
the state will lose $4 to $5 million in fees from the mutual fund                                                               
industry.  He noted staff from the Division of Banking, Securities                                                              
and Administration are available to answer any technical questions                                                              
about this legislation.                                                                                                         
                                                                                                                                
CHAIRMAN TAYLOR noted that he received significant written                                                                      
testimony, in anticipation of a proposed amendment, from people who                                                             
waited to testify yesterday.  He announced that amendment was not                                                               
offered.                                                                                                                        
                                                                                                                                
The committee took a brief at-ease.                                                                                             
                                                                                                                                
SENATOR ELLIS moved HB 83 with individual recommendations.  There                                                               
being no objection, HB 83 moved from committee.