05/04/2007 01:30 PM Senate FINANCE

AT EASE 2:47:53 PM/5:45:21 PM                                                                                               
                                                                                                                                
                                                                                                                                
     SENATE BILL NO. 53                                                                                                         
     "An   Act    making   appropriations,    including   capital                                                               
     appropriations,     supplemental     appropriations,     and                                                               
     appropriations  to capitalize  funds; and  providing for  an                                                               
     effective date."                                                                                                           
                                                                                                                                
                                                                                                                                
This was  the fifth hearing for  this bill in the  Senate Finance                                                               
Committee.                                                                                                                      
                                                                                                                                
Co-Chair  Hoffman  offered  a  motion  to adopt  CS  SB  53,  25-                                                               
GS1014\L, as a working document.                                                                                                
                                                                                                                                
Without  objection the  committee  substitute,  Version "L",  was                                                               
ADOPTED.                                                                                                                        
                                                                                                                                
5:46:09 PM                                                                                                                    
                                                                                                                                
FRED  FISHER, Staff  to Co-Chair  Stedman, introduced  the Senate                                                               
Finance  Committee  substitute,  reminding   that  the  bill  was                                                               
transmitted from Governor Palin as a "bare bones" request.                                                                      
                                                                                                                                
5:47:01 PM                                                                                                                    
                                                                                                                                
Mr. Fisher informed  that Sections 1 through  6 contained capital                                                               
appropriations  and grants  totaling  $237.4  million in  general                                                               
funds to accommodate the Governor's  requests, and $198.2 million                                                               
general  funds  for  legislative  priority  projects.  The  total                                                               
proposed  capital budget  was $435.6  million  general funds  and                                                               
$1,495,600,000  in  total  capital expenditures.  This  committee                                                               
substitute    also   contained    the   remaining    supplemental                                                               
appropriations for fiscal  year 2007 (FY07), in  addition to FY08                                                               
operating  appropriations.  Sections   7  through  9  represented                                                               
operating  recommendations   to  fund   the  monetary   terms  of                                                               
collective bargaining  agreements reached with the  Labor, Trades                                                               
and Crafts  Unit and the  Teachers' Education Association  of Mt.                                                               
Edgecumbe, for a total of $3.8  million in general funds and $6.7                                                               
million total.                                                                                                                  
                                                                                                                                
Mr.  Fisher continued  that Sections  10 through  24 of  the bill                                                               
contained  the proposed  funding  levels for  the remaining  FY07                                                               
supplemental requests,  totaling $55.9  million in  general funds                                                               
and $95.4 in total funds.                                                                                                       
                                                                                                                                
5:48:31 PM                                                                                                                    
                                                                                                                                
Mr. Fisher  remarked that  Sections 25  through 31  were Language                                                               
sections associated  with capital  projects. Sections  32 through                                                               
47 and  Section 49 were reappropriation  recommendations. Section                                                               
48  contained  appropriations  from  the  Railbelt  Energy  Fund,                                                               
totaling  approximately $75  million.  Sections 50  and 51  would                                                               
appropriate any  remaining surplus dollars to  the Constitutional                                                               
Budget Reserve  fund and the  Alaska Housing  Finance Corporation                                                               
(AHFC) sub-corporation.