03/17/2017 01:30 PM House FINANCE

SENATE BILL NO. 30                                                                                                            
                                                                                                                                
     "An Act approving and ratifying the sale of royalty                                                                        
     oil by the State of Alaska to Petro Star Inc.; and                                                                         
     providing for an effective date."                                                                                          
                                                                                                                                
2:48:04 PM                                                                                                                    
                                                                                                                                
Representative  Wilson   questioned  the  fiscal   note.  She                                                                   
wondered about  the non-UGF (Other)  fund source  of $1.945.4                                                                   
million.                                                                                                                        
                                                                                                                                
ED KING,  SPECIAL ASSISTANT  TO THE COMMISSIONER,  DEPARTMENT                                                                   
OF  NATURAL   RESOURCES,  identified  three   funds  [royalty                                                                   
distribution]:  the general  fund,  Permanent  Fund, and  the                                                                   
Public School Trust Fund.                                                                                                       
                                                                                                                                
Co-Chair Foster noted there were no amendments to the bill.                                                                     
                                                                                                                                
Vice-Chair   Gara  addressed   the  fiscal   note  from   the                                                                   
Department  of Natural  Resources,  FN  2 (DNR).  The  fiscal                                                                   
note had zero  expenditures and brought in  revenues totaling                                                                   
$3.852.2 million in FY 18.                                                                                                      
                                                                                                                                
2:50:22 PM                                                                                                                    
                                                                                                                                
Mr. King  clarified that the initial  fiscal note FN  1 (DNR)                                                                   
had contained an error.                                                                                                         
                                                                                                                                
Co-Chair Seaton MOVED  to REPORT SB 30 out  of committee with                                                                   
individual  recommendations   and  the  accompanying   fiscal                                                                   
note. There being NO OBJECTION, it was so ordered.                                                                              
                                                                                                                                
SB 30 was REPORTED out of committee with a "do pass"                                                                            
recommendation and with one previously published fiscal                                                                         
impact note: FN2 DNR.                                                                                                           
                                                                                                                                
2:51:26 PM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
2:52:14 PM                                                                                                                    
RECONVENED