Legislature(2009 - 2010)
04/13/2010 09:46 AM House FIN
| Audio | Topic |
|---|---|
| Start | |
| HCR21 | |
| SB217 | |
| SB300 | |
| SB247 | |
| SB248 | |
| SB301 | |
| HB426 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
SENATE BILL NO. 300
"An Act relating to loan participations and
development finance projects of the Alaska Industrial
Development and Export Authority; and relating to
loans from the rural development initiative fund."
10:30:35 AM
TED LEONARD, EXECUTIVE DIRECTOR, ALASKA INDUSTRIAL
DEVELOPMENT AND EXPORT AUTHORITY, explained the difference
between SB 300 and the companion bill HB 410. He stated
that an amendment was added to SB 300 in the Senate Finance
Committee that adds a new power under AS 44.0880 to the
Alaska Industrial Development and Export Authority (AIDEA).
The law allows AIDEA to consider the interest of local
governments and the impact of financed projects on local
governments and to ensure local governments share in the
benefits of AIDEA's activities when exercising AIDEA's
financial authority. The interest of AIDEA to preserve a
healthy financial position and bond rating and the
project's economic benefits as well as impact on the
community will all be considered.
Mr. Leonard furthered that the new authority is consistent
with existing legislative directives embedded in AIDEA's
development program. He explained that any development
projects AIDEA engages in and issues over $6 million in
bonds requires scrutiny by a regional committee to
determine local impact. The same statute also requires a
consultation with local communities affected by existing
development projects. He summarized that the statute
directs AIDEA's board to consider the impacts of
development projects on the local community when engaged in
any of AIDEA's broad range of economic activities and
programs.
10:33:51 AM
Co-Chair Stoltze questioned the language in the bill on
page 4, line 6, that reads;
"Connected by road" does not include a connection by
the Alaska marine highway system.
He presumed that the marine highway is not part of the road
system and wondered why the language was necessary.
GREG WINEGAR, DIRECTOR, ALASKA DIVISION OF INVESTMENTS,
DEPARTMENT OF COMMERCE, COMMUNITY AND ECONOMIC DEVELOPMENT,
DIVISION DIRECTOR, stated that the language been in place
since the inception of the Rural Development loan program
in FY 2000.
Representative Doogan asked if the Senate changes to the
legislation are found in Section 1 of the bill. Mr. Winegar
affirmed.
Representative Gara noted that the [Rural Development loan]
program does include communities of fewer than 2000 people
connected by road systems to Anchorage or Fairbanks.
10:36:34 AM
Co-Chair Stoltze closed public testimony.
Co-Chair Stoltze noted that there are three zero fiscal
notes [FN1 (EED), FN2 (REV), FN3 (DOT)], accompanying the
legislation.
Mr. Leonard made final comments in support of moving
forward with the legislation.
Vice-Chair Thomas MOVED to report CS SB 300(FIN) out of
Committee with individual recommendations and the
accompanying fiscal notes. There being NO OBJECTION, it was
so ordered.
CS SB 300(FIN) was REPORTED out of Committee with a "do
pass" recommendation and with previously published zero
fiscal notes: FN1 (CED), FN2 (REV), FN3 (DOT)
10:38:46 AM RECESSED
10:52:28 AM RECONVENED
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