04/13/2010 09:00 AM Senate FINANCE

HOUSE BILL NO. 354                                                                                                            
                                                                                                                                
     "An Act relating to eligibility for loans from the                                                                         
     Alaska capstone avionics revolving loan fund."                                                                             
                                                                                                                                
Co-Chair Stedman  related it was  the second hearing  on the                                                                    
bill.  He  noted one  fiscal  note  from the  Department  of                                                                    
Commerce, Community and Economic Development.                                                                                   
                                                                                                                                
REPRESENTATIVE WES  KELLER, SPONSOR, summarized HB  354. The                                                                    
bill changes  the eligibility  for funds  so that  those who                                                                    
lease an aircraft can also qualify  to use the loan to equip                                                                    
their airplane.                                                                                                                 
                                                                                                                                
MATT  JOHNSON, STAFF,  REPRESENTATIVE  WES KELLER,  SPONSOR,                                                                    
addressed a previous concern  about Capstone avionics placed                                                                    
in an aircraft  that leaves the state. There  is a provision                                                                    
that allows 120  days to pay the loan in  full, to re-up the                                                                    
lease, or purchase the aircraft.                                                                                                
                                                                                                                                
9:46:36 AM                                                                                                                    
                                                                                                                                
Senator  Olson  asked  who  was   taking  advantage  of  the                                                                    
Capstone loan. Representative Keller did not know.                                                                              
                                                                                                                                
Co-Chair Hoffman  MOVED to  REPORT HB  354 out  of Committee                                                                    
with individual recommendations  and the accompanying fiscal                                                                    
note. There being NO OBJECTION, it was so ordered.                                                                              
                                                                                                                                
HB  354 was  REPORTED  out  of Committee  with  a "do  pass"                                                                    
recommendation and with previously published zero FN 1 CED.                                                                     
                                                                                                                                
9:47:35 AM