04/26/2006 01:30 PM House FINANCE

HOUSE BILL NO. 375                                                                                                            
                                                                                                                                
     "An  Act relating  to the  retirement benefit  liability                                                                   
     account and  appropriations from that  account; relating                                                                   
     to deposits  of certain income earned on  money received                                                                   
     as a  result of State v.  Amerada Hess, et  al., 1JU-77-                                                                   
     847 Civ. (Superior Court,  First Judicial District); and                                                                   
     providing for an effective date."                                                                                          
                                                                                                                                
Representative  Holm  reported that  he  spoke  to people  in                                                                   
Fairbanks and they  are in agreement with Amendment  2, which                                                                   
was adopted at a previous meeting.                                                                                              
                                                                                                                                
Co-Chair  Chenault noted  a  new zero  fiscal  note from  the                                                                   
Department of Administration.   He stated that the Department                                                                   
of Revenue  needs to revise  the fiscal note  analysis, which                                                                   
currently  lists Amerada Hess  as the  source of funding  for                                                                   
the account.                                                                                                                    
                                                                                                                                
Representative  Hawker voiced  concern about  the attempt  to                                                                   
create  a universal  mechanism,  when  each community  has  a                                                                   
unique need.   He said  he would not  oppose the  bill today,                                                                   
but would when it is read across the floor.                                                                                     
                                                                                                                                
2:32:44 PM                                                                                                                    
                                                                                                                                
Representative Joule also shared  reservations about the bill                                                                   
because  it does  not address  concerns  in all  communities.                                                                   
All communities  should be  treated fairly.   He spoke  about                                                                   
the needs in his district.                                                                                                      
                                                                                                                                
2:34:14 PM                                                                                                                    
                                                                                                                                
Representative Foster  MOVED to REPORT CSHB 375  (FIN) out of                                                                   
committee,  as amended, with  individual recommendations  and                                                                   
the accompanying fiscal notes.   There being NO OBJECTION, it                                                                   
was so ordered.                                                                                                                 
                                                                                                                                
CSHB  375 (FIN)  was REPORTED  out  of Committee  with a  "do                                                                   
pass" recommendation  and with a new zero fiscal  note by the                                                                   
Department of  Revenue, and  with a new  zero fiscal  note by                                                                   
the Department of Administration.                                                                                               
                                                                                                                                
AT EASE: 2:35:05 PM                                                                                                           
RECONVENE:2:45:33 PM