05/07/1998 09:09 AM Senate FIN

HOUSE BILL 488                                                               
                                                                               
     "An Act relating to the Alaska Royalty Oil and Gas                        
     Development Advisory Board."                                              
                                                                               
REPRESENTATIVE JERRY  SANDERS explained that the  bill was an                  
attempt   to  change   the  Alaska   Royalty   Oil  and   Gas                  
Development    Advisory   Board    in    favor   of    public                  
representation.  He reported  that  the  board was  currently                  
composed  of three  commissioners  and three  public  members                  
who  had to  have a  petroleum background.  He believed  that                  
replacing  the  commissioner  of the  Department  of  Revenue                  
with  the commissioner  of the  Department  of Community  and                  
Regional  Affairs, and  the addition of  public members  with                  
little or  no ties with  the petroleum industry  would result                  
in  the board  taking more  of  an interest  in the  up-front                  
negotiation  of  crude  contracts   for  local  refining  and                  
encourage price and supply benefits for Alaskans.                              
                                                                               
Senator Donley  MOVED to  REPORT HB 488  am out of  committee                  
with  individual recommendations  and  attached fiscal  note.                  
There being no objection, it was so ordered.                                   
                                                                               
CSHB 488(FIN) was REPORTED out  of committee with a "do pass"                  
recommendation and attached fiscal note  by the Department of                  
Natural Resources.