04/10/2010 01:00 PM Senate FINANCE

SENATE BILL NO. 230                                                                                                           
                                                                                                                                
     "An Act making and amending appropriations, including                                                                      
     capital appropriations, supplemental appropriations,                                                                       
     and other appropriations; making appropriations to                                                                         
     capitalize funds; and providing for an effective                                                                           
     date."                                                                                                                     
                                                                                                                                
6:43:51 PM                                                                                                                    
                                                                                                                                
Co-Chair  Stedman  announced  that it  was  the  committee's                                                                    
third hearing on  the capital budget. It was  first heard on                                                                    
April  9.  All amendments  were  incorporated  into the  new                                                                    
committee substitute (CS).                                                                                                      
                                                                                                                                
Co-Chair Hoffman MOVED to ADOPT  CSSB 230 (FIN), labeled 26-                                                                    
GS2824\P, Kane, 4/10/10, as the  working document before the                                                                    
committee.                                                                                                                      
                                                                                                                                
6:44:47 PM                                                                                                                    
                                                                                                                                
MILES  BAKER,  STAFF,  CO-CHAIR STEDMAN,  pointed  out  that                                                                    
there are  two packets  that accompanying  Version P  of the                                                                    
capital budget. The  first packet shows the  changes made to                                                                    
the CS.  Column 1 is  the previous CS.  Columns 2, 3,  and 4                                                                    
show net changes  from the previous CS. Column  2 is capital                                                                    
project changes, column 3 is  $50 million transferred to the                                                                    
renewable energy fund  and gives AEA the  authority to issue                                                                    
those grants. Column  4 is the biggest  change, new Sections                                                                    
16, 17,  and 18,  which add $380  million of  GO bond-funded                                                                    
state  education and  research  projects. The  total of  the                                                                    
first four columns represents the  total spending in Version                                                                    
P. Column 6  is the governor's spending and column  7 is the                                                                    
delta between the governor's spending and Version P.                                                                            
                                                                                                                                
Mr. Baker reported on the  second packet which shows project                                                                    
changes,  the bulk  of  columns 2,  3, and  4  in the  first                                                                    
packet.   He  pointed  out change  locations. The  renewable                                                                    
energy grant  change is on  page 18,  line 20. On  page 132,                                                                    
Section 20C  is a new  section of $2.4  million appropriated                                                                    
from  the general  fund to  the  emerging energy  technology                                                                    
fund  as   proposed  in  SB  220.   There  is  corresponding                                                                    
contingency language  on page 147,  Section 49,  which makes                                                                    
the $2.4  million contingent  on the passage  of SB  220. He                                                                    
understood that there was a federal fund match.                                                                                 
                                                                                                                                
Mr. Baker  noted the UAA  Engineering facility  planning and                                                                    
design money  of $5 million was  omitted in the last  CS. It                                                                    
is now in Version P on page 52.  Also added in on page 52 is                                                                    
the  UAF  Life  Sciences  classroom  for  $20.6  million  in                                                                    
University  Revenue Bonds  that will  be used  to match  $88                                                                    
million of general obligation bonds.                                                                                            
                                                                                                                                
Co-Chair Stedman WITHDREW his  OBJECTION to adopting the CS.                                                                    
There being NO OBJECTION, it was so ordered.                                                                                    
                                                                                                                                
6:50:14 PM                                                                                                                    
                                                                                                                                
Co-Chair Hoffman MOVED to REPORT CSSB 230 (FIN) out of                                                                          
Committee with individual recommendations. There being NO                                                                       
OBJECTION, it was so ordered.                                                                                                   
                                                                                                                                
CSSB 230 (FIN) was REPORTED out of Committee with a "do                                                                         
pass" recommendation.                                                                                                           
                                                                                                                                
Co-Chair Stedman thanked his staff and Legislative                                                                              
Finance's staff for their work on the budget.