Legislature(2017 - 2018)BELTZ 105 (TSBldg)

04/18/2018 01:30 PM JUDICIARY

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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+= SB 81 DHSS CENT. REGISTRY;LICENSE;BCKGROUND CHK TELECONFERENCED
Heard & Held
+ HB 355 FIRE;FOREST LAND; CRIMES;FIRE PREVENTION TELECONFERENCED
Heard & Held
+= HB 170 AK SECURITIES ACT; PENALTIES; CRT. RULES TELECONFERENCED
Moved SCS CSHB 170(L&C) Out of Committee
+= HB 208 TRUSTS; COMM PROP TRUSTS; POWERS OF APPT TELECONFERENCED
Scheduled but Not Heard
-- Public Testimony --
+ HB 216 CRIMES;RESTITUTION;DIVIDEND FUND TELECONFERENCED
<Pending Referral><Bill Hearing Canceled>
+ HB 342 LAND SALES PRACTICES TELECONFERENCED
<Bill Hearing Canceled>
+ Bills Previously Heard/Scheduled TELECONFERENCED
        HB 170-AK SECURITIES ACT; PENALTIES; CRT. RULES                                                                     
                                                                                                                                
2:46:23 PM                                                                                                                    
CHAIR COGHILL  announced the consideration  of HB 170.  [SCS CSHB
170(L&C) was  before the committee.]  He asked if there  were any                                                               
more questions for the committee to consider.                                                                                   
                                                                                                                                
2:47:30 PM                                                                                                                    
SENATOR  WIELECHOWSKI   asked  if   HB  170   was  the   same  or                                                               
substantially  different than  securities  bills  that have  come                                                               
before the committee in years past.                                                                                             
                                                                                                                                
2:47:49 PM                                                                                                                    
CRYSTAL  KOENEMAN, Staff,  Representative  Sam  Kito III,  Alaska                                                               
State Legislature,  Juneau, Alaska, said  HB 170 has  been around                                                               
since  2010. It  was  important  to the  former  director of  the                                                               
Division  of  Banking  and  Securities,  Kevin  Anselm,  and  her                                                               
predecessor.                                                                                                                    
                                                                                                                                
CHAIR COGHILL  added that the bill  always gets caught up  in the                                                               
end  of session  because  it's  so dense.  The  industry has  had                                                               
significant  input and  the current  division  director wants  to                                                               
testify today.                                                                                                                  
                                                                                                                                
2:49:08 PM                                                                                                                    
KRISTY  NAYLOR,   Acting  Director,   Division  of   Banking  and                                                               
Securities,  Department  of   Commerce,  Community  and  Economic                                                               
Development  (DCCED),  Anchorage,  Alaska,   said  HB  170  is  a                                                               
consumer protection  bill that enhances the  administrative civil                                                               
and criminal penalties. The hope  is that the additional consumer                                                               
protections  will benefit  Alaskans as  a whole.  The bill  looks                                                               
larger  than  it really  is  because  it completely  repeals  and                                                               
reenacts  the  statutes.  Most of  the  existing  Securities  Act                                                               
provisions remain in place but are reorganized.                                                                                 
                                                                                                                                
CHAIR  COGHILL  asked  her  to discuss  why  the  bill  separates                                                               
securities from the Alaska Native Settlement Act (ANCSA).                                                                       
                                                                                                                                
MS. NAYLOR explained that the  ANCSA was placed in the Securities                                                               
Act when it passed because  the federal government directed ANCSA                                                               
corporation proxy solicitations  to be regulated the  way the FCC                                                               
regulates  proxy solicitations  of publicly  traded corporations.                                                               
However,  it  doesn't make  sense  to  have the  same  regulatory                                                               
procedures  as for  broker dealers  and investment  advisors when                                                               
ANCSA  corporations  are so  unique  and  the proxy  solicitation                                                               
regulation is so  individualized. Rather, it makes  more sense to                                                               
leave  the  ANCSA   provisions  where  they  are   and  move  the                                                               
securities  provisions  to  another  chapter  and  regulate  them                                                               
separately.                                                                                                                     
                                                                                                                                
2:52:09 PM                                                                                                                    
CHAIR  COGHILL said  he  wanted the  members  to understand  that                                                               
history. He asked if there was any objection to moving the bill.                                                                
                                                                                                                                
2:52:49 PM                                                                                                                    
SENATOR WIELECHOWSKI asked if the bill had any opposition.                                                                      
                                                                                                                                
MS. KOENEMAN replied  none that they were aware  of through prior                                                               
committee hearings.                                                                                                             
                                                                                                                                
2:53:23 PM                                                                                                                    
SENATOR COSTELLO  moved to  report the  Senate CS  for CS  for HB
170(L&C),   version    R,   from   committee    with   individual                                                               
recommendations and attached fiscal note(s).                                                                                    
                                                                                                                                
2:53:41 PM                                                                                                                    
CHAIR  COGHILL found  no objection  and SCS  CSHB 170(L&C)  moved                                                               
from the Senate Judiciary Standing Committee                                                                                    

Document Name Date/Time Subjects
SB 81 - Sectional Summary (ver. D).pdf SJUD 4/18/2018 1:30:00 PM
SB 81
SB 81 - Summary of Changes (ver. A to ver. D).pdf SJUD 4/18/2018 1:30:00 PM
SB 81
SB 81 - Governor Transmittal Letter.pdf SJUD 4/18/2018 1:30:00 PM
SB 81
SB 81 - Supporting Document - FAQs.pdf SJUD 4/18/2018 1:30:00 PM
SB 81
HB 208 - Additional Letters of Support and Opposition.pdf SJUD 4/18/2018 1:30:00 PM
HB 208
HB 208 - Additional Letters.pdf SJUD 4/18/2018 1:30:00 PM
HB 208
CS to HB 355 - Version U.pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 355 - Explanation of Changes (ver. O to ver. U).pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 208 - Letter - UA Foundation.pdf SJUD 4/18/2018 1:30:00 PM
HB 208
Legal Memo HB 208.pdf SJUD 4/18/2018 1:30:00 PM
HB 208
HB 355 - Shower Amendment O.18.pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 355 - Shower Amendment O.17.pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 355 - Shower Amendment O.16.pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 355 - Shower Amendment O.19.pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 355 - Shower Amendment O.24.pdf SJUD 4/18/2018 1:30:00 PM
HB 355
HB 355 - Shower Amendment O.21.pdf SJUD 4/18/2018 1:30:00 PM
HB 355