04/20/2001 01:46 PM House FIN

HOUSE BILL NO. 236                                                                                                            
                                                                                                                                
     "An  Act  relating  to  the  contracting  and  financing                                                                   
     authority  of  the  Alaska  Industrial  Development  and                                                                   
     Export  Authority; authorizing  the  authority to  issue                                                                   
     bonds in  a principal amount  not to exceed  $76,000,000                                                                   
     to  finance   the  acquisition,  design,   construction,                                                                   
     inventory,  and operation of  natural gas, propane  air,                                                                   
     or  manufactured  gas  public  utility  facilities;  and                                                                   
     providing for an effective date."                                                                                          
                                                                                                                                
Representative  Harris   MOVED  to  report  HB   236  out  of                                                                   
Committee with the accompanying fiscal note.                                                                                    
                                                                                                                                
Representative John  Davies spoke in support of  the bill but                                                                   
pointed  out that the  legislation provides  approval  of the                                                                   
bond issuance  contingent  on the due  diligence findings  of                                                                   
Alaska Industrial  Development and Export  Authority (AIDEA).                                                                   
He asked AIDEA to communicate  with the Legislature regarding                                                                   
their due  diligence findings.  Co-Chair Williams  agreed and                                                                   
noted  that   he  would  send   a  communication   to  AIDEA.                                                                   
Representative Lancaster  agreed with Representative  Davies'                                                                   
concerns  and maintained  that  it is  imperative that  AIDEA                                                                   
tell the Legislature  how they are going to  proceed with the                                                                   
bonds.                                                                                                                          
                                                                                                                                
There being NO OBJECTION, HB 236 was moved from Committee.                                                                      
                                                                                                                                
HB  236  was REPORTED  out  of  Committee  with a  "do  pass"                                                                   
recommendation  and  with  a  new zero  fiscal  note  by  the                                                                   
Department of Community and Economic Development.