03/22/1993 01:50 PM Senate JUD

  SENATOR  KELLY  returned  SB  112  (UNIFORM COMMERCIAL  CODE                 
  REVISIONS) to committee and noted JERRY KURTZ was off-net in                 
  Anchorage to testify.                                                        
                                                                               
  Number 458                                                                   
                                                                               
  SENATOR KELLY affirmed from MR. KURTZ  he had a copy of  the                 
  MUNICIPALITY OF  ANCHORAGE 1993 LEGISLATIVE  PROGRAM dealing                 
  with the Uniform  Commercial Code, but thought  the proposed                 
  amendment  should  be  made  more  specific.  He  gave  some                 
  background information on problems to the municipality .                     
                                                                               
  SENATOR  KELLY  asked  for  the   wording  on  the  proposed                 
  amendment, and MR. KURTZ said the "s" should be removed from                 
  the word, liens, in the phrase  "municipal tax liens" and he                 
  said there was only one tax  lien described in AS 29.45.300.                 
  He explained it was the tax lien for  municipalities against                 
  all  personal  property as  assessed,  and he  explained the                 
                                                                               
                                                                               
  value of the proposed amendment to the municipality.                         
                                                                               
  SENATOR KELLY moved the adoption  of the following amendment                 
  to SB  112:  Nothing in these sections shall be construed to                 
  defeat the prior and paramount position of the municipal tax                 
  lien established in  AS 29.45.300.   Without objections,  so                 
  ordered.                                                                     
                                                                               
  Number 494                                                                   
                                                                               
  There  was some  general  discussion about  the legislation,                 
  which will go to Judiciary and Finance committees.                           
                                                                               
  SENATOR LINCOLN had a question about the bill in relation to                 
  the impact on state funded loan and investment programs.                     
                                                                               
  MR.  KURTZ explained  the  first place  it would  impact the                 
  state  loans and  investments is  in  Article 9  on security                 
  interests, and  he referred  members to  page 5  of SB  112,                 
  where the Article 9 amendments begin.  He gave some specific                 
  examples as his explanation on clarity.                                      
                                                                               
  SENATOR PEARCE moved  to adopt the new  committee substitute                 
  for SB 112 (UNIFORM COMMERCIAL CODE REVISIONS) incorporating                 
  the new amendment.  Without objections, so ordered.                          
                                                                               
  SENATOR PEARCE moved to pass CS FOR SENATE BILL NO. 112(L&C)                 
  (UNIFORM  COMMERCIAL  CODE  REVISIONS)  from committee  with                 
  individual  recommendations   and  a  proper   fiscal  note.                 
  Without objections, so ordered.