04/11/2010 11:30 AM Senate LABOR & COMMERCE

          HJR 51-PROPOSED FED. MORTGAGE LICENSING REGS                                                                      
                                                                                                                                
12:17:48 PM                                                                                                                   
CHAIR PASKVAN announced consideration of HJR 51.                                                                                
                                                                                                                                
JIM POUND,  staff to  Representative Keller,  sponsor of  HJR 51,                                                               
said  HJR 51  is  a statement  against the  "one  size fits  all"                                                               
attitude in the 2008 Secure  and Fair Enforcement Act (SAFE) that                                                               
primarily responds to  the housing bubble burst in  the Lower 48,                                                               
but  that  Alaskans  watched  from afar.  It  restricts  who  can                                                               
finance a home  or property and it  establishes traditional urban                                                               
and housing guidelines  that don't work for  Alaska. He explained                                                               
that many Alaskan  properties sold in Alaska such  as hunting and                                                               
fishing cabins  don't meet those Lower  48 standards. Traditional                                                               
lending institutions  under SAFE  cannot finance them  leaving it                                                               
up to  the owner. Unfortunately,  also under the federal  law and                                                               
the soon  to be adopted  regulations the owner cannot  finance it                                                               
either. Alaska needs  some exemptions and the  regulations need a                                                               
closer look; that is what HCR 51 does.                                                                                          
                                                                                                                                
12:19:13 PM                                                                                                                   
CHAIR PASKVAN closed public testimony.                                                                                          
                                                                                                                                
12:19:43 PM                                                                                                                   
SENATOR  MEYER  moved  to  report  HJR  51  from  committee  with                                                               
individual  recommendations and  attached  fiscal note(s).  There                                                               
being no objection, the motion carried.                                                                                         
                                                                                                                                
12:20:21 PM                                                                                                                   
Finding no further  business to come before  the committee, Chair                                                               
Paskvan adjourned the meeting at 12:20 p.m.