04/14/2012 09:00 AM Senate FINANCE

CS FOR HOUSE BILL NO. 261(FIN)                                                                                                
                                                                                                                                
     "An Act relating to loans for the purchase of                                                                              
     commercial fishing entry permits; and providing for an                                                                     
     effective date."                                                                                                           
                                                                                                                                
TIM CLARK,  STAFF, REPRESENTATIVE BRYCE  EDGMON, highlighted                                                                    
the  bill  and stated  that  the  legislation increased  the                                                                    
maximum loan amount  for entry permit loans  under Section B                                                                    
of the Commercial Fishing Revolving  Loan Fund from $100,000                                                                    
to $200,000.  He explained that  the increase  reflected the                                                                    
reality of the  cost of entry permits and  expounded that in                                                                    
2011,  the  Prince William  Sound  salmon  drift net  permit                                                                    
averaged  $161,000  in  price.   The  loans  would  only  be                                                                    
available  to Alaska  residents  who were  not eligible  for                                                                    
financing through commercial banks  or the Alaska Commercial                                                                    
Fishing  and Agriculture  Bank. He  concluded that  the bill                                                                    
lowered  the  barrier  for Alaskans  to  take  ownership  of                                                                    
Alaskan fisheries and helped eliminate  the hindrance of the                                                                    
cost of entry permits.                                                                                                          
                                                                                                                                
Co-Chair  Stedman discussed  two  previously published  zero                                                                    
fiscal notes  from the Department  of Fish and Game  and the                                                                    
Department of Commerce, Community and Economic Development.                                                                     
                                                                                                                                
10:29:42 AM                                                                                                                   
AT EASE                                                                                                                         
                                                                                                                                
10:30:02 AM                                                                                                                   
RECONVENED                                                                                                                      
                                                                                                                                
10:30:09 AM                                                                                                                   
                                                                                                                                
Co-Chair  Hoffman  MOVED  to report  CSHB  261(FIN)  out  of                                                                    
committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal notes. There  being NO OBJECTION, it was                                                                    
so ordered.                                                                                                                     
                                                                                                                                
10:30:16 AM                                                                                                                   
                                                                                                                                
CSHB  261(FIN) was  REPORTED  out of  committee  with a  "do                                                                    
pass" recommendation  and with  a previously  published zero                                                                    
fiscal  note:  FN1(DFG)  and  a  previously  published  zero                                                                    
fiscal note: FN3(CED).