Legislature(2021 - 2022)ADAMS 519
01/26/2022 01:30 PM House FINANCE
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| Audio | Topic |
|---|---|
| Start | |
| HB281 || HB282 | |
| Presentation: Alaska Mental Health Trust | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 281 | TELECONFERENCED | |
| += | HB 282 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
HOUSE BILL NO. 281 "An Act making appropriations for the operating and loan program expenses of state government and for certain programs; capitalizing funds; amending appropriations; making reappropriations; making supplemental appropriations; making appropriations under art. IX, sec. 17(c), Constitution of the State of Alaska, from the constitutional budget reserve fund; and providing for an effective date." HOUSE BILL NO. 282 "An Act making appropriations for the operating and capital expenses of the state's integrated comprehensive mental health program; making capital appropriations and supplemental appropriations; and providing for an effective date." 1:36:18 PM Co-Chair Foster indicated the Committee Substitutes (CS) work drafts reflected the governors proposed budgets and the only changes made were technical and structural as advised by the Legislative Finance Division (LFD) and Legislative Legal Services. Co-Chair Merrick MOVED to ADOPT proposed committee substitute for HB 281(FIN), Work Draft 32-GH2686\B (Marx, 1/21/22). Co-Chair Foster OBJECTED for discussion. He asked his staff to review the proposed changes in the bill. 1:37:41 PM BRODIE ANDERSON, STAFF, REPRESENTATIVE NEAL FOSTER, explained that the committee substitute for HB 281, the Operating Budget bill, reflected the technical and drafting changes made in accordance with the Legislative Drafting Manual and aligned it with legislative drafting practices. He pointed out some the major changes made in the CS. He began with page 1 and noted that the prior title contained a reference to the Constitutional Budget Reserve (CBR). The language was removed from the title since the governor's budget did not require a CBR appropriation in. Representative Rasmussen asked if the legislature did amend language to include backfill provisions would it warrant a title change. Mr. Anderson responded in the affirmative. He added that a reference to the CBR required a title change. Mr. Anderson referred to page 55, Section 7, Line 1, which read Supplemental Request for Commerce Community and Economic Development that was moved forward from its previous location into the supplemental portion of the bill. The change was consistent with standard practice that previous fiscal year Supplemental requests were placed before the current year's request in the language section. Co-Chair Foster asked for the reference where it was previously located. Mr. Anderson replied that it was found on page 58, Section 14 of the original version of the bill. 1:41:29 PM Representative Josephson asked if the change reflected the committee being asked to consolidate the supplemental for FY 23. Mr. Anderson replied that it was consistent with the legislative drafting practice and conformed it to the typical order of the language section. Originally, the governor did not identify the item as a supplemental request, however it was a supplemental item and was changed in the CS. Co-Chair Foster asked Ms. Marx to comment. 1:42:39 PM MARIE MARX, LEGAL COUNSEL, LEGISLATIVE LEGAL SERVICES (via teleconference), explained that the change was not substantive and was merely reorganizing the item in its proper place according to the Legislative Drafting Manual. Customarily, the supplemental requests were placed in the front of the bill. Drafting the bill consistently each year made it easier for readers to find items when placed in the same place every year. The supplemental appropriations were first and the appropriations for the upcoming year were listed second. Representative Carpenter asked which fiscal year the money was coming from; FY 2022 or FY 2023. 1:44:22 PM KELLY CUNNINGHAM, BUDGET ANALYST, LEGISLATIVE FINANCE DIVISION (via teleconference), responded that the money came from insurance money and the roughly $6.8 million in carry-forward dollars from the prior year. Representative Carpenter asked if the administration viewed the item as a supplemental request. Ms. Cunningham responded in the affirmative and furthered that she verified it with the Office of Management and Budget (OMB). Mr. Anderson continued to Page 56, Section 12 through Page 57, line 22 regarding the Alaska Permanent Fund (PF) and highlighted that had been reordered by sections and reflected the following: • Subsection (a) Page 56, line 31 through Page 57, line 3 currently reflected the mandatory royalty deposits into the principal of the PF. Co-Chair Foster asked Mr. Anderson if mandatory royalty payment was referring to 25 percent of royalties for the post-1979 fields. Mr. Anderson replied that it reflected the pre-1979 fields and the post-1979 fields were in subsection (b). Mr. Anderson continued as follows: • Subsection (b), Page 57, lines 4 through 7 was the deposit for post-1979 fields royalties. • Subsection (c) Page 57, lines 8 through 14, regarded the percent of market value (POMV) payout and the Governor's 50 percent/50 percent split (50/50) Permanent Fund Dividend (PFD) payment. • Subsection (d), page 57, lines 15 through 17 reflected the deposit into the Alaska Capital Income Fund. Co-Chair Foster asked if any of the numbers changed or whether it was merely reordering the items place in the bill. Mr. Anderson responded in the affirmative. Co-Chair Foster asked where the subsection was originally located. Mr. Anderson confirmed that the subsection order changed, and he deferred to Ms. Marx for the answer. Co-Chair Foster asked Ms. Marx to comment. Ms. Marx commented that items related to the Permanent Fund were customarily kept in a certain order to maintain consistency. The sections were reordered from the original bill (Version A) where it began with an appropriation for the Permanent Fund Dividend (PFD) but legislative legal routinely started the section with the amount that was required to be deposited according to the constitution. 1:48:28 PM Representative Rasmussen cited subsection (e) regarding inflation proofing and asked whether it was included in the governors original budget. Mr. Anderson apologized that he forgot to comment on subsection (e) and indicated it was included in the governors request. Representative Carpenter wanted to hear from Ms. Cunningham about whether she had any concerns over the structural changes. Ms. Cunningham commented that LFD concurred with the changes made by Legislative Legal Services. Mr. Anderson referenced Page 63, Section 19, Lines 14 through Page 65, Line 14 regarding the Department of Health and Social Services (DHSS) item. He relayed that the item was originally designated as a supplemental request but was determined to be an appropriation extension into FY 2023, therefore, was moved farther back in the CS in the language section. He moved to Page 68, Section 25, Lines 4 through 14 of the CS pertaining to the Office of the Governor. In accordance with legislative drafting, Office of the Governor appropriations were placed after agencies, and it was moved to Section 25. He added that there was an additional section called Cost Allocations in version A that fell under the governors section and was combined with Section 25. Therefore, subsection (a) reflected the appropriation and subsection (b) pertained to the cost allocations. He concluded with his report of the changes for HB 281 CS. Co-Chair Foster WITHDREW the OBJECTION. The proposed committee substitute for HB 281, Work Draft 32-2686\B (Marx, 1-21-22) was ADOPTED. 1:53:14 PM Co-Chair Merrick MOVED to ADOPT the proposed committee substitute for HB 282, Work Draft 32-GH2687\B (Marx, 1/26/22). Co-Chair Foster OBJECTED for the purpose of discussion. Mr. Anderson reviewed the changes which were nominal. He restated that the CS reflected only technical and structural changes made by the Legislative Finance Division and Legislative Legal Services. He pointed to the only change on page 1, lines 1 through 4. He indicated the change was to the title that had previously referenced Capital requests and Supplemental appropriations and the lines were removed, as there were no capital requests nor supplemental appropriations outside the scope of the Mental Health Budget. The budget only contained requests from the Alaska Mental Health Trust Authority (AMHTA). Co-Chair Foster clarified that previously the committee was discussing the operating budget, HB 281 and the Mental Health Budget, HB 282, was being discussed presently. He clarified that the title was changed but he noted that the CS title contained language referencing capital expenses. He asked Mr. Anderson to restate the changes. Mr. Anderson explained that the Mental Health Budget was unique that it had about 8 capital projects that were reflected in a single appropriation bill and were referred to as capital expenses. The previous title referenced capital appropriations, which were outside the scope of the Mental Health Budget capital projects. Co-Chair Foster WITHDREW the OBJECTION. The proposed committee substitute for HB 282, Work Draft 32-2687\B (Marx, 1-26-22) was ADOPTED. 1:57:03 PM AT EASE 1:58:19 PM RECONVENED Co-Chair Foster welcomed the next presenters. ^PRESENTATION: ALASKA MENTAL HEALTH TRUST 1:58:45 PM ANITA HALTERMAN, CHAIR, BOARD OF TRUSTEES, ALASKA MENTAL HEALTH TRUST AUTHORITY (AMHTA) (via teleconference), introduced herself and recognized her colleagues on the board listed on slide 2 of the PowerPoint Presentation: "Alaska Mental Health Trust Authority." She listed the trustees as follows: Trustees: Anita Halterman, Chair; Rhonda Boyles, Vice- Chair; Vern? Boerner; John Sturgeon; Chris Cooke; Brent Fisher; and Kevin Fimon. Ms. Halterman reported that for more than 27 years AMHTA administered the perpetual trust in order to improve the lives of its beneficiaries. The trust supported state, local, and non-governmental partners in providing services to vulnerable Alaskans. In FY 2021, the trust awarded its partners $21.3 million in grants. She acknowledged and thanked everyone who supported AMHTA. She noted that the roll the trust played in improving the lives of its beneficiaries was evident through its varied work with its partners. The trust accomplished its goals through prudent and strategic financial and trust land asset management. The trust was in a strong financial position. She indicated that the trust had made significant progress in the prior year and listed its achievements. She thanked the trusts partners. She spoke of the new Chief Executive Officer (CEO), Steve Williams who served the trust for 16 years, 8 of which he was the Chief Operating Officer. Co-Chair Foster noted Representative Thompson had joined the meeting. 2:04:00 PM STEVE WILLIAMS, CHIEF EXECUTIVE OFFICER, ALASKA MENTAL HEALTH TRUST AUTHORITY (AMHTA), was excited to talk about the trust as the first time as the CEO. He continued to present the PowerPoint presentation. 2:04:34 PM Mr. Williams turned to Slide 3 titled Trust Beneficiaries: Beneficiaries include Alaskans who experience: Mental illnesses Intellectual and/or developmental disabilities Alzheimer's disease and related dementia Traumatic brain injuries Substance use disorders 2:05:21 PM Mr. Williams moved to Slide 4 regarding the outcome of the AMTHA audit titled Legislative Audit: Confirmed response to the 2018 audit Additional recommendations made in 2021 Commercial Real Estate Policies and Procedures Mr. Williams related that the audits helped the trust to look for areas of improvement. The auditor found that the trust had successfully responded and took action to remedy the finding in the 2018 audit. He furthered that the trust continued to operate and uphold Alaska's statutes regarding the trust. He confirmed that the trust would be looking at the recent recommendations and take steps to address them. 2:07:33 PM Mr. Williams continued to Slide 5 titled Financial Position that contained a graph depicting the financial position of the trust since its inception in 1996. He noted the overall steady growth of the trust. He pointed to the far right bar where the blue line represented the corpus of the trust, which totaled $498 million. He indicated that the orange portion represented the budget reserves that was targeted at 400 percent of its payout; amounting to $268 million. The gray column represented the Trust's real estate equity valued at $66 million. The total value of the trusts assets was $832 million. He acknowledged that the success of the fund was due to the active management of its funds through the Alaska Permanent Fund Corporation (APFC), its partners at the Department of Revenue (DOR), and active oversight by the board. 2:09:55 PM Mr. Williams turned to Slide 6 titled FY 23 Available Funding, which was approved by the Board of Trustees in the prior summer. Trust's Estimated Available Funding FY23 Investment Portfolio Payout (4.25%) $29,000,000 Prior Year Funds Carried Forward $2,800,000 Land Office Spendable Income $4,600,000 Interest Earnings $600,000 Total $37,000,000 Mr. Williams indicated that the total available estimated funding was $37 million, and the exact amount would be known when the books were closed out for the year at the end of August 2022. He pointed to the table on the right showing the trusts prior 5 years of funding that had steadily grown roughly $1.5 million each year: Trust Available Funding FY22 $35,456,200 FY21 $33,243,200 FY20 $31,875,600 FY19 $29,437,000 FY18 $28,908,000 2:12:27 PM Mr. Williams advanced to Slide 7 titled Trust Budget Development Process: Multi-month budget development process Trustees approve a budget in late summer Approved budget transmitted to Governor and LB&A by September 15 Comprehensive Stakeholder Engagement Advisory Boards Beneficiaries State, Tribal, Community, & Local Partners Mr. Williams briefly noted that the trust also forwarded to the governor and legislature the Comprehensive Mental Health Program Plan that included recommendations on General Fund (GF) spending. Mr. Williams moved to the pie chart on Slide 8 titled FY 23 Spending. He pointed to the two section of the pie chart which were similar representing the agency budgets; The Trust Authority: $4,349.6 and the Trust land Office Agency Budgets: $4,877.2 used to administer its grants to its partners. He detailed that the trust awarded 200 grants per year and administered 300 grants per year. The agency's budget was critical to grants administration and advocacy. The Trust Land Office (TLO) located in Department of Natural Resources (DNR) was charged with managing 1 million acres of trust lands. 2:16:39 PM Mr. Williams moved to the green section of the pie representing Mental Health Trust Authority Authorized Receipts (MHTAAR) that totaled $8.5 million, which were designated grants to state agencies and required receipt authority. Some of the grants were found in DHSS, Department of Corrections (DOC), the Alaska Court System and the University of Alaska (UA). He pointed to the blue section of the pie that portrayed Authority Grants totaling $17,634.7 that were designated grants to community providers, nonprofits, local governments, and Tribal organizations. Co-Chair Foster recognized Representative Johnson had joined the meeting. 2:18:47 PM Representative Wool asked how many employees were employed by the trust. Mr. Williams responded that there were 17 employees in the AMHTA Office and 18 staff in the Trust Land Office. 2:19:43 PM Mr. Williams advanced to Slide 9 titled FY 23 GF/MH Recommendations. The chart illustrated the trusts authorization for the MHTAAR grants trust funds as well as the recommendations for the states use of GF. The table only included trust funds where there was a GF increment. He indicated the blue columns reflected the board approved budget that was divided into Operating and Capital Budget items. He moved to the right in the gold columns which showed what the governor had included in his FY 23 request; all the recommendations had been approved by the board. He delineated that the trust engaged with the Office of Management and Budget (OMB) on OMBs priorities and recommendations they had asked the trust to consider. He pointed to the very last row at the bottom of the page reflecting the Alaska Housing Finance Corporation (AFHC) Senior Housing Predevelopment, which was requested by the administration. He spoke to improved coordination with the executive branch agencies. Representative Wool asked if there was a direct correlation between the pie chart on slide 8 and the spreadsheet on slide 9 [between the FY 23 spending to the FY 23 recommendations]. Mr. Williams reported that the total amount of approved MHTARR spending was roughly $8.5 million. He pointed to the table on page 9, totaling $3.7 million in MHTAAR funding, which represented the amount of Mental Health Budget General Fund (GFMH) recommendations. The other roughly $4.2 million of MHTAAR funds was money the trust was solely funding for projects where there was no GF associated. 2:24:18 PM Mr. Williams continued to Slide 10 titled Work of the Trust: Established Focus Areas: Disability Justice Mental Health & Addiction Intervention Beneficiary Employment & Engagement Housing and Home & Community Based Services Additional Priorities: Workforce Development Early Childhood Intervention & Prevention Mr. Williams stated that the committee was familiar with the trust focus areas and details regarding the slide was listed on its website. He Highlighted that in the area of early childhood intervention and prevention the trust recognized its need to intervene earlier in the prevention process. 2:26:08 PM Representative Rasmussen asked if anything was being done for healthy pregnancy and prenatal care. Mr. Williams was unable to answer the question and would follow up. 2:26:57 PM Representative Carpenter referenced slide 10 and asked if the AMHTA website would have an assessment of how well programs were working in the focus areas. Mr. Williams answered that the website included information on the grants performance measures and outcomes associated with them. 2:28:00 PM Co-Chair Merrick asked if Mr. Williams would consider Pre-K part of early childhood intervention and prevention. Mr. Williams replied that it was limited to that group that would be considered trust beneficiaries. 2:28:47 PM Mr. Williams discussed Slide 11 titled Trust Impact Grants: Trust Grant Impacts Increasing residential treatment and support capacity $300,000 to Alaska Behavioral Health for residential mental health treatment in Fairbanks $216,000 to the Arc of Anchorage for adult residential mental health treatment $250,000 to Set Free Alaska (Mat-Su) for long term recovery housing Supported efforts to prevent and end homelessness $250,000 to the Beans Caf? for permanency navigation and new facility $150,000 for the new Southeast Community Center hub in Juneau $250,000 for Fairbanks Rescue Mission for Rapid Re-Housing Mr. Williams related that the grants were chosen for the slide to show efforts in the areas of treatment and homelessness. He pointed to the second bottom the $150,000 grant for the new Southeast Community Center hub in Juneau called the Teal Center that offered resources and referrals all in one place. It was located across the street from the Glory Hall homeless shelter. He reported that the Teal Center would house a number of non-profit organizations that provided services to the Alaska Mental Health Trust Authoritys beneficiaries. 2:30:49 PM Representative Rasmussen had heard about programs offering housing options for single mothers. She believed that the state was lacking in housing for single fathers and inquired whether there was housing for single fathers available. Mr. Williams was not sure if Representative Rasmussen was speaking to housing available for single men. Representative Rasmussen clarified that it had been brought to her attention that there was no homeless shelter for single fathers with children. Mr. Williams was uncertain and would provide the answer to the committee. 2:32:53 PM Mr. Williams highlighted Slide 12 titled Transforming Behavioral Health Crisis Response. Currently, Alaska's current crisis response system was largely reliant on law enforcement, EMS, and hospital emergency rooms. The trust had been working with DHSS and stakeholders to redesign behavioral health crisis response. He delineated that they were using the Crisis Now Framework: • Crisis Call Center • Mobile Crisis Team • Crisis Response Center 23-Hour Stabilization Short-term Stabilization Mr. Williams moved to the following slide 13 titled Crisis Efforts, Continued. Working with stakeholders statewide Partnerships for new services in population centers Fairbanks, Mat-Su, Anchorage, Juneau Mr. Williams detailed that the trust was in conversation with the rural communities of Nome, Kotzebue, and Ketchikan, to determine if the framework could be adapted to a rural setting. He listed the trusts crisis response partners: public safety, law enforcement, local government, and other state agencies. He added that they also included individuals with lived experience and their families, the trust's advocacy partners and others. He emphasized that the trust was attempting to bring together as many different perspectives to the initiative for its ultimate success. 2:36:22 PM Representative Wool Thanked Mr. Williams for his efforts with the project and was very supportive. He wanted to know about the project's status and when it would become operational. He also asked if the trust received the necessary support from DHSS and the state. Mr. Williams cited the $807 thousand funding for the Fairbanks Mobile Crisis Team funded by the city that began operating in November of 2021 and starting in December 2021 they were operating at full capacity for 23 hours per day. He delineated that in December, the team responded to 40 calls; only one time was there a need for law enforcement. He pointed to slide 13 and noted the bill numbers listed HB 172 [Mental Health Facilities; Meds; Patients/CHAPTER 41 SLA 22/07/15/2022] and the companion bill SB 124 and explained that the bills were introduced by the governor and amended a narrow section of the Title 24 Civil Commitment statutes. The bill allowed the crisis team to place and individual who was a danger oneself or others in protective custody for a short time in order to transport the individual to the 23-Hour stabilization center to address their mental health crisis. He summarized that the trust was continuing to move forward with the implementation of all the components in all the locations listed. 2:41:48 PM Mr. Williams continued by referring to slide 9 which showed the operating budget item; Crisis Now Continuum of Care Grants requesting $900 thousand GF and elucidated that the grants in conjunction with trust funding would be used to continue implementing the crisis care initiative. Representative Wool was very supportive and happy with the progress. He wished the program success. 2:42:46 PM Representative LeBon mentioned the Fairbanks Mobile Crisis Team. He wondered if there was a partnership with the Fairbanks Community Service Patrol. Mr. Williams responded that he was very familiar with the Community Service Patrol and noted that the trust funded it from its inception. He was unsure of the details on the connection between the two, but they were working together on crisis response. He offered to provide more information. 2:44:54 PM Mr. Williams moved to slide 14 titled Trust Land Office. Highlights Land Sales Subdivision Platting Icy Cape Development FY22 Anticipated Trust Land Office Revenues Coal: $247,000 Oil and Gas: $1,158,000 Minerals: $1,168,700 Materials: $25,000 Timber: $2,747,000 Lands: $3,200,000 Real Estate: $2,068,659 Total $10,614,359 Mr. Williams highlighted the Trust Land Office. He communicated that the TLO was an important arm of AMHTA; it managed and maximized the revenue for trust land. He stressed the importance of community education regarding the relationship between AMHTA and the TLO. He related that previously, the two offices were rarely connected. Currently, the offices worked closely with each other towards the goal of improving the lives of the beneficiaries. 2:47:28 PM Co-Chair Merrick congratulated Mr. Williams on his new position. She asked for a list or map of trust land holdings. Mr. Williams agreed to provide the information and added that AMHTAs website included a map of the parcels. She asked whether there was trust property in Eagle River on Wolf Den Drive and if it was being considered for a cemetery. Mr. Williams was uncertain and would provide the answer to the committee. Representative LeBon cited the minerals listed on slide 14 in the amount of $1.17 million and guessed that it reflected mining revenue. He asked if the revenue was from Fort Knox near Fairbanks. Mr. Williams replied in the affirmative. Representative LeBon understood that the AMHTA had a lease arrangement for many years with Fort Knox that paid over $20 million to the trust. Mr. Williams would have to defer the answer to someone else. He thought the answer was yes, but he would get back to him. Representative LeBon acknowledged the importance of mining for the trust. 2:50:36 PM Representative Wool mentioned a more recent AMHTA lease to a mining company in a quasi-residential area of the Ester Dome and the Old Murphy Dome area in Fairbanks. The company received the lease despite much community objection. He asked Mr. Williams if the trust researched the project and the community impact prior to approving the leases. He reported unfavorable commentary towards the AMHTA in the community due to the mines negative impact. He understood the generally good work of the trust but wanted Mr. Williams to comment. Mr. Williams responded that he was aware of the projects and added that the trust did consider the interest of the community. He recounted that the executive director of the TLO managed the lands. He voiced that input from the community was sought and considered as the decisions were being made. 2:53:19 PM Representative Wool appreciated Mr. Williams answer. He hoped community consideration would continue in earnest. 2:53:46 PM Mr. Williams replied to Representative LeBons question regarding Fort Knox and confirmed that the partnership with the mine had resulted in over $25 million. He moved to Slide 15: Trust/USFS Land Exchange Result of more than a decade of effort Multiple stakeholders Swaps approx. 17,980 acres of Trust land for approx.18,494 acres of USFS lands (equal value exchange) Hollis Naukati Shelter Cove Mr. Williams reported that the land exchange between the US Forest Service and the trust had been worked on since 2005. He delineated that the effort included state, local, and federal governments, and the legislature. The land exchange preserved lands for public use and in exchange the trust received lands that helped to satisfy multiple needs for the trust. He commented that it was an excellent compromise and demonstration of good will and would improve the lives of the trusts beneficiaries. The trust estimated that the exchange would bring over $25 million to $30 million over the next 10 years. 2:57:17 PM Mr. Williams turned to the final slide 16 titled In Closing. In Closing Strong leadership at the board, Trust Authority & Trust Land Office Strong financial position Strong partnerships Together = positive impacts for Beneficiaries Mr. Williams hoped he was leaving the committee with the notion that the Trust was in a positive position in helping its trustees. He thought everyone working together could improve the lives of beneficiaries. He was available for questions. 2:58:25 PM Representative Carpenter referenced slide 11 and pointed to the trusts efforts to prevent and end homelessness totaling $650 thousand. He wondered how many people were employed and housed or prevented from becoming homeless due to the trusts financial support. He suggested that the problem of homelessness was continuing to increase in the state. He wondered if the efforts results were measured and impactful. He wondered what the state was getting with the monies being spent. Mr. Williams agreed that the bullet points did not demonstrate outcomes. He indicated that the intent of the slide was to show the trusts financial support going directly to community non-profits and that the funding was not part of the states budget process. It was not the complete picture of the trusts efforts to end homelessness. The trust worked collaboratively with the state and many communities' organizations to efficiently help end homelessness and ensure that efforts were not duplicated. He offered to provide outcomes from trust grants. He emphasized the importance of the wrap around services that kept people housed aside from the physical housing. Representative Carpenter would appreciate a follow-up conversation. He ultimately wanted to see people becoming independent without state support that created larger budgets. Mr. Williams agreed and shared that many individuals had become independent but not all trust beneficiaries would be able to achieve independence due to things like intellectual and developmental disabilities. 3:05:21 PM Representative LeBon referred to slide 5 regarding the trusts financial position. He inquired how much the trust held in targeted reserves. He deduced it was approximately 30 percent and wondered about the relationship between the trusts reserves and the corpus. Mr. Williams replied that the blue portion was the corpus of the fund at $498 million. The target for budget reserves was 400 percent of its annual payout that was determined by Callan [investment consulting firm] hired by the trust. 3:07:49 PM Representative Rasmussen shared information regarding Beans Caf? fund raising efforts. She was curious if there was currently any land held by the trust that could be cleared for work in farming because of the concern with food security. Mr. Williams would check with the land office to see if something was available. He reminded the committee that that the goal was to maximize the benefits of the land in perpetuity. Representative Rasmussen asked if he was aware of any work being done in combating homelessness that built small communities around farming. Mr. Williams did not know the answer. He would provide the information to the committee. Co-Chair Foster thanked the presenters and reviewed the agenda for the following day. HB 281 was HEARD and HELD in committee for further consideration. HB 282 was HEARD and HELD in committee for further consideration.
| Document Name | Date/Time | Subjects |
|---|---|---|
| HB 281 OP CS FIN WorkDraft v.B.pdf |
HFIN 1/26/2022 1:30:00 PM |
HB 281 |
| HB282 MH CS FIN WorkDraft vB.pdf |
HFIN 1/26/2022 1:30:00 PM |
HB 282 |
| HFIN 012622 AMHTrust Presentation.pdf |
HFIN 1/26/2022 1:30:00 PM |