Legislature(2021 - 2022)GRUENBERG 120
03/29/2022 03:00 PM House STATE AFFAIRS
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| Audio | Topic |
|---|---|
| Start | |
| HB142 | |
| HB271 | |
| HB251 | |
| HB203 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 142 | TELECONFERENCED | |
| += | HB 271 | TELECONFERENCED | |
| += | HB 251 | TELECONFERENCED | |
| *+ | HB 203 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
HB 251-BD OF TRUSTEES OF THE AK PERM. FUND CORP.
4:27:39 PM
CHAIR KREISS-TOMKINS announced that the next order of business
would be HOUSE BILL NO. 251, "An Act relating to the Board of
Trustees of the Alaska Permanent Fund Corporation; and providing
for an effective date."
CHAIR KREISS-TOMKINS opened public testimony on HB 251. After
ascertaining that no one wished to testify, he closed public
testimony on HB 251.
4:28:20 PM
REPRESENTATIVE ANDY JOSEPHSON, Alaska State Legislature, prime
sponsor of HB 251, provided introductory remarks. He emphasized
that the bill was not intended to prevent the firing of APFC's
former CEO, Angela Rodell. He clarified that the purpose of HB
251 was to prevent the appearance and actuality of political
interference in APFC. He pointed out that if HB 251 had been
operative, the result of Ms. Rodell's firing would have been the
same, as 5 of 6 votes would still result in a termination.
However, he argued that it would not have been possible for the
Legislative Budget & Audit Committee (LB&A) to be investigating
her termination, as it would be "almost inconceivable" that the
act would have been politically motivated. He explained the
process by which the proposed legislation would depoliticize the
appointment to the Board of Trustees.
4:32:59 PM
REPRESENTATIVE KAUFMAN inquired about the definition of a
socially responsible investor.
REPRESENTATIVE JOSEPHSON defined a socially responsible investor
as an individual with a sensitivity to matters, such as climate
and autocracies invading sovereign nations.
4:34:38 PM
REPRESENTATIVE EASTMAN referred to Section 8 of the bill and
sought to confirm that the board could remove the executive
director without cause with the support of 5 members.
REPRESENTATIVE JOSEPHSON answered yes, 5 out of 7 members.
4:35:33 PM
REPRESENTATIVE TARR pointed out that there were certificate
programs for socially responsible investors. She suggested
making the completion of that program an eligibility requirement
for the socially responsible investor on the board, to ensure
that the desired skillset was clearly defined.
REPRESENTATIVE JOSEPHSON expressed his support for that idea.
4:36:15 PM
CHAIR KREISS-TOMKINS announced that HB 251 would be held over.