03/20/1998 01:48 PM House FIN

SENATE BILL NO. 261                                                            
                                                                               
"An Act relating to the Special Olympics World Winter                          
Games to be held in Anchorage in the year 2001;                                
establishing a reserve fund for the games; providing                           
certain duties and authority for the Alaska Industrial                         
Development and Export Authority regarding financing                           
for those games; and providing for an effective date."                         
                                                                               
Co-Chair Therriault noted that the Committee adopted a                         
conceptual amendment on 3/19/98 that was incorporated into                     
work draft 0-LS1354\F, dated 3/19/98.  The amendment was                       
incorporated on page 3, lines 8 - 10 and page 4, lines 1 -                     
3, and 5 - 6.  The amendment clarifies that the State's                        
obligation is on an accumulative total of $4 million dollars                   
of the cost limitation of $8 million dollars as referenced                     
in the Special Olympics International Charter.                                 
                                                                               
Representative Mulder MOVED to ADOPT work draft 0-LS1354\F,                    
dated 3/19/98.  There being NO OBJECTION, it was so ordered.                   
                                                                               
Co-Chair Therriault stated that he would have been more                        
comfortable if specific language could have been added to                      
guarantee the first $4 million dollars of hard dollars                         
raised and extended. Representative Martin noted that the                      
intent is well expressed.                                                      
                                                                               
Representative Mulder disclosed that he is on the Board of                     
Governor's of the Special Olympics.                                            
                                                                               
Representative Kohring asked what is being done to raise                       
money in the private sector.                                                   
                                                                               
MARY GORE, STAFF, SENATOR MILLER discussed fund raising                        
events.   She observed that the fund raising position does                     
not begin until July 1, 1998.  She explained that Special                      
Olympics International required the guarantee.  She stated                     
that she is confident that the money can be raised by the                      
private sector.  Representative Kohring stated that he                         
supports the event, but expressed concern regarding                            
governmental involvement.                                                      
                                                                               
Ms. Gore noted that the legislature would only have a moral                    
obligation because future legislatures cannot be committed.                    
The money would have to be requested and appropriated in the                   
year 2001.  She noted that the state of Connecticut                            
guaranteed funding for the games through an agency similar                     
to AIDEA.  The Province of Ontario guaranteed the Toronto                      
games.                                                                         
                                                                               
Representative Foster MOVED to report CSHB 261 (FIN) out of                    
Committee with the accompanying fiscal note.  There being NO                   
OBJECTION, it was so ordered.                                                  
                                                                               
HCS CSSB 261 (FIN) was REPORTED out of Committee with a "do                    
pass" recommendation and with a zero fiscal note by the                        
Department of Commerce and Economic Development, 2/6/98.