05/04/1996 03:00 PM Senate FIN

  CS FOR HOUSE BILL NO. 401(RES)                                               
                                                                               
       An Act  authorizing the  issuance and  sale of  revenue                 
       bonds  to  fund  public  wastewater  systems,  nonpoint                 
       source  water  pollution  control  projects,  including                 
       solid   waste   management    systems,   and    estuary                 
       conservation and management  projects; authorizing  the                 
       use of the  Alaska clean water  fund to pay and  secure                 
       the  bonds and  to pay  costs related  to  issuance and                 
       administration  of  the   bonds;  authorizing   certain                 
       measures to secure  payment of the bonds;  and amending                 
       Rule 3, Alaska Rules of Civil Procedure.                                
                                                                               
  Co-chairman Halford directed that CSHB  401 (RES) be brought                 
  on  for  discussion   and  noted  that  the   committee  had                 
  previously  reviewed  the  Senate  version  (SB 207).    The                 
  proposed bill allows  for bonding based on the  Alaska clean                 
  water fund.  Bonding would occur at a loss  but would spread                 
  the  benefits of  the clean  water fund  for a  considerable                 
  period of time.                                                              
                                                                               
  Senator  Zharoff MOVED  for passage  of CSHB 401  (Res) with                 
  individual  recommendations.     No  objection  having  been                 
  raised, CSHB 401  (RES) was REPORTED  OUT of committee  with                 
  zero fiscal notes  from the  Dept. of Revenue  and Dept.  of                 
  Environmental Conservation.   Co-chairman Halford signed the                 
                                                                               
                                                                               
  committee  report  with  a "do  pass"  recommendation.   Co-                 
  chairman Frank and Senators Donley, Phillips, Rieger, Sharp,                 
  and Zharoff signed "no recommendation."