04/10/2012 01:30 PM House FINANCE

HOUSE BILL NO. 286                                                                                                            
                                                                                                                                
     "An Act providing  for and relating to  the issuance of                                                                    
     general obligation bonds for  the purpose of paying the                                                                    
     cost of  municipal port projects; and  providing for an                                                                    
     effective date."                                                                                                           
                                                                                                                                
Vice-chair  Fairclough  MOVED  to ADOPT  proposed  committee                                                                    
substitute   for  HB   286(FIN),  Work   Draft  27-GH2769\I,                                                                    
(Krisch, 4/10/12) as a working document.                                                                                        
                                                                                                                                
Co-Chair Stoltze OBJECTED for purpose of discussion.                                                                            
                                                                                                                                
JAMES  ARMSTRONG,  STAFF,  CO-CHAIR  STOLTZE  explained  the                                                                    
changes  in  the committee  substitute.  In  Section 4,  the                                                                    
Haines Maintenance  Station replacement  for $3  million was                                                                    
removed.  The $3  million was  added to  Section 3,  page 2,                                                                    
line 18,  for the  Haines Borough  Harbor Upgrade  making it                                                                    
now $15 million.  There were technical changes  made on page                                                                    
3,  lines 15-16,  that now  lists projects  as construction,                                                                    
not reconstruction.                                                                                                             
                                                                                                                                
Co-Chair  Stoltze WITHDREW  his  objection.  There being  NO                                                                    
OBJECTION it was so ordered.                                                                                                    
                                                                                                                                
Vice-chair  Fairclough explained  the new  fiscal note  from                                                                    
the  Department  of  Revenue,   OMB  Component  Number  121,                                                                    
4/6/12. She  listed the  FY 13  through FY  18 appropriation                                                                    
request and out-year cost estimates.                                                                                            
                                                                                                                                
Vice-chair Fairclough  MOVED to report CSHB  286(FIN) out of                                                                    
committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal  note. There being NO  OBJECTION, it was                                                                    
so ordered.                                                                                                                     
                                                                                                                                
CSHB  286 (FIN)  was REPORTED  out of  committee with  a "do                                                                    
pass" recommendation  and with  a new  fiscal note  from the                                                                    
Department of Revenue.                                                                                                          
                                                                                                                                
2:17:09 PM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
2:19:18 PM                                                                                                                    
RECONVENED