05/07/1994 01:50 PM Senate FIN

                                                                               
  CS FOR HOUSE BILL NO. 494(STA) am                                            
                                                                               
       Act changing the Alaska State Pension Investment  Board                 
       to the Alaska Pension Investment Authority and relating                 
       to the authority; and providing for an effective date.                  
                                                                               
  Co-chair Pearce directed that CSHB 494 (STA)am be brought on                 
  for  discussion  and  referenced  a  Senate   State  Affairs                 
  version, a zero fiscal note from the Dept. of Administration                 
  (Retirement  and  Benefits),  a $398.5  note  from  Dept. of                 
  Revenue (Treasury  Management) with  seven new  positions, a                 
  $497.0 note from Dept. of Revenue (Alaska Pension Investment                 
  Board)  with  one new  positions,  an  organizational chart,                 
  hearing  request, sponsor  statement, a  sectional analysis,                 
  investment   board   position   paper,   and   miscellaneous                 
  information.  She observed that the bill had not before been                 
  heard  by   committee  and  asked   that  Darrel  Rexwinkel,                 
  Commissioner, Dept.  of Revenue,  speak to  the legislation.                 
  Commissioner Rexwinkel was  absent from the meeting  at this                 
  time.    Co-chair Pearce  directed  that  the bill  be  HELD                 
  pending  his  return.   (Discussion did  not revert  to CSHB
(STA)am during the balance of the meeting.)