03/27/2000 01:55 PM House FIN

CS for HOUSE BILL NO. 304                                                                                                       
                                                                                                                                
"An Act relating to issuance and sale of revenue bonds                                                                          
to fund drinking water projects, to creation of an                                                                              
Alaska clean water administrative fund and an Alaska                                                                            
drinking water administrative fund, to fees to be                                                                               
charged in connection with loans made from the Alaska                                                                           
clean water fund and the Alaska drinking water fund,                                                                            
and to clarification of the character and permissible                                                                           
uses of the Alaska drinking water fund; amending Rule                                                                           
3, Alaska Rules of Civil Procedure; and providing for                                                                           
an effective date."                                                                                                             
                                                                                                                                
Co-Chair Therriault provided members with a technical                                                                           
amendment to CSHB 304 (FIN), 1-GH2031 \H.1 Cook 3/24/00,                                                                        
that he intended to offer on the House Floor.                                                                                   
                                                                                                                                
MIKE TIBBLES, STAFF, REPRESENTATIVE THERRIAULT explained                                                                        
that he consulted legal counsel regarding problems that                                                                         
arose in the House Finance Committee substitute. One of the                                                                     
problems was the result of a conceptual amendment the other                                                                     
was language that was inadvertently dropped. He reviewed the                                                                    
amendment. He observed that there were two restrictions                                                                         
under AS 37.15.560(b). The amount that can be bonded in a                                                                       
particular year is $15 million dollars. The limit on the                                                                        
total unpaid principal is $150 million dollars. The amount                                                                      
applies only to each particular program. Drinking Water and                                                                     
wastewater programs are included. The amendment clarifies                                                                       
that the amounts applies to each program.                                                                                       
                                                                                                                                
Page 2, line 18, following "$150,000,000":                                                                                      
Insert "for each program".                                                                                                      
                                                                                                                                
Mr. Tibbles noted that the conceptual amendment offered by                                                                      
Representative J. Davies resulted in the drinking water                                                                         
language being placed in the wastewater section. Wastewater                                                                     
was not specified. The amendment clarifies that it applies                                                                      
to wastewater.                                                                                                                  
                                                                                                                                
Page 7, line 26, following "provides":                                                                                          
Insert "waste"                                                                                                                  
                                                                                                                                
Mr. Tibbles explained that subsections (a) and (b) were                                                                         
setup to allow municipalities and private entities that are                                                                     
economically regulated access to loans. The language was not                                                                    
tied to the private portion. The amendment includes the                                                                         
private sector.                                                                                                                 
                                                                                                                                
Page 9, line 8, following "assistance"                                                                                          
Insert "for drinking water system projects, including                                                                           
projects to plan, design, build, construct, or                                                                                  
rehabilitate a public drinking water collection,                                                                                
storage, treatment, or distribution system,"                                                                                    
                                                                                                                                
Page 9, lines 9- 11:                                                                                                            
Delete all material and insert:                                                                                                 
"(A) municipalities;"                                                                                                           
                                                                                                                                
Co-Chair Therriault explained that he planned to offer the                                                                      
amendment on the House floor, as a technical amendment.                                                                         
                                                                                                                                
Representative J. Davies clarified that economic regulation                                                                     
was not limited to wastewater.                                                                                                  
                                                                                                                                
CSHB 304 (FIN) was REPORTED out of Committee on March 17,                                                                       
2000. Discussion occurred regarding proposed amendments to                                                                      
CSHB 304 (FIN). NO committee action was taken.