02/26/2009 01:30 PM Senate LABOR & COMMERCE

         SB  84-AIDEA: BONDING LIMITS; CONFIDENTIALITY                                                                      
                                                                                                                                
1:39:01 PM                                                                                                                    
CHAIR PASKVAN announced SB 84 to be up for consideration.                                                                       
                                                                                                                                
SENATOR THOMAS  moved to  adopt conceptual Amendment  1 to  add a                                                               
sunset date of July 1, 2014 to the bill.                                                                                        
                                                                                                                                
SENATOR BUNDE said  he understands that all  this amendment would                                                               
do is put a sunset date on the bill.                                                                                            
                                                                                                                                
SENATOR  THOMAS agreed  that was  correct; it  would establish  a                                                               
five-year sunset  date rather than  it being in perpetuity  as it                                                               
is now.                                                                                                                         
                                                                                                                                
1:40:02 PM                                                                                                                    
TED  LEONARD, Executive  Director, Alaska  Industrial Development                                                               
and Export Authority  (AIDEA), supported Amendment 1  and said it                                                               
included the refunding  bond language that is  necessary for them                                                               
to get the best rates.                                                                                                          
                                                                                                                                
SENATOR THOMAS  said a  refunding bond  is like  refinancing your                                                               
home and  can actually decrease  the bond  rate for a  project or                                                               
facility.                                                                                                                       
                                                                                                                                
SENATOR THOMAS  repeated his motion  to adopt Amendment  1. There                                                               
were no objections and it was so ordered.                                                                                       
                                                                                                                                
SENATOR THOMAS moved  to report CSSB 84(L&C)  from committee with                                                               
individual recommendations  and attached fiscal note.  There were                                                               
no objections and it was so ordered.