03/05/2008 01:30 PM House FINANCE

HOUSE BILL NO. 373                                                                                                            
                                                                                                                                
     "An Act extending specified public school bond debt                                                                        
     reimbursement; and providing for an effective date."                                                                       
                                                                                                                                
3:30:33 PM                                                                                                                    
                                                                                                                                
MICHAEL PAWLOWSKI, STAFF, CO-CHAIR  KEVIN MEYER, explained HB
 as an extension of the existing  school bond debt program                                                                   
from November 2008 to November 2010.                                                                                            
                                                                                                                                
Representative  Hawker  asked,  regarding  the  indeterminate                                                                   
fiscal note,  if there are other  bonds that might  require a                                                                   
similar  extension.  Mr.  Pawlowski said  several  bonds  are                                                                   
being modified at the local level.                                                                                              
                                                                                                                                
Co-Chair Meyer pointed out that  Anchorage district is unique                                                                   
in  that their  elections are  in  April, while  most are  in                                                                   
October.                                                                                                                        
                                                                                                                                
3:32:43 PM                                                                                                                    
                                                                                                                                
SAM KITO, III,  FACILITIES ENGINEER, DEPARTMENT  OF EDUCATION                                                                   
AND EARLY DEVELOPMENT, explained  that currently there are no                                                                   
pending  issues  impacted  by  not  extending  the  deadline.                                                                   
Anchorage  is the  only district  that  could potentially  be                                                                   
impacted if  the current  debt authorization extends  through                                                                   
November 2008.  If it  expired and  wasn't renewed  until the                                                                   
next Legislature, an April bond issue might be affected.                                                                        
                                                                                                                                
Representative  Thomas  asked   a  question  about  a  Juneau                                                                   
school.                                                                                                                         
                                                                                                                                
3:34:21 PM                                                                                                                    
                                                                                                                                
Representative  Hawker   MOVED  to  report  HB   373  out  of                                                                   
Committee  with individual recommendations  and attached  new                                                                   
indeterminate fiscal note by the  Department of Education and                                                                   
Early  Development.  There  being  NO OBJECTION,  it  was  so                                                                   
ordered.                                                                                                                        
                                                                                                                                
HB  373  was REPORTED  out  of  Committee  with a  "do  pass"                                                                   
recommendation and with new indeterminate  fiscal note by the                                                                   
Department of Education and Early Development.