05/18/2003 01:03 PM Senate FIN

                                                                                                                                
     CS FOR HOUSE BILL NO. 112(FIN)                                                                                             
     "An  Act relating to  the authority  of the Alaska  Industrial                                                             
     Development  and  Export Authority  to  issue bonds  and to  a                                                             
     municipal tax exemption for certain assets and projects of the                                                             
     Alaska Industrial Development and Export Authority; and                                                                    
     providing for an effective date."                                                                                          
                                                                                                                                
                                                                                                                                
This was  the third  hearing for  this bill  in the Senate  Finance                                                             
Committee.                                                                                                                      
                                                                                                                                
Senator  Taylor moved  for adoption  of HB 112,  23-GH1010\U,  as a                                                             
working draft.                                                                                                                  
                                                                                                                                
Co-Chair Wilken objected to give an explanation that this committee                                                             
substitute  extends AIDEA bonding  authority up  to $10 million  to                                                             
July 1, 2007, as requested by AIDEA  representatives. He added that                                                             
the committee  substitute extends  the municipal tax exemption  for                                                             
the  Delong Mountain  Transportation  System  to July  1, 2007.  He                                                             
relayed  the  intent  of  the  Murkowski  Administration  to  draft                                                             
legislation  with the  assistance of  the State  Tax Assessor  that                                                             
"sets  forth these  decisions"  for legislative  consideration  the                                                             
following session. He told of assurances  he has received that this                                                             
committee substitute would not affect other proposed projects.                                                                  
                                                                                                                                
Senator Olson  indicated that  Tech Cominco,  Inc. does not  oppose                                                             
this committee substitute.                                                                                                      
                                                                                                                                
Co-Chair  Wilken  removed his  objection  to  the adoption  of  the                                                             
committee substitute and it was ADOPTED without objection.                                                                      
                                                                                                                                
Senator Taylor  offered a motion to  report CS HB 112,  Version "U"                                                             
from Committee  with  individual recommendations  and  accompanying                                                             
fiscal note.                                                                                                                    
                                                                                                                                
There was no objection and SCS CS HB 112 (FIN) MOVED from Committee                                                             
with  zero fiscal  note #1  from the  Department  of Community  and                                                             
Economic Development.                                                                                                           
                                                                                                                                
AT EASE 1:12 PM / 1:22 PM