Legislature(1997 - 1998)
02/05/1998 11:25 AM Senate RLS
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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
SB 223 - SENIOR HOUSING CHAIRMAN KELLY called the Senate Rules Committee meeting to order at 11:25 a.m., and noted the presence of Senators Leman, Taylor and Kelly. CHAIRMAN KELLY brought SB 223 before the committee and directed attention to a proposed Rules committee substitute, which was requested by Alaska Housing Finance Corporation (AHFC). SENATOR TAYLOR moved adoption of CSSB 223(RLS). Hearing no objection, it was so ordered. JOHN BITNEY, representing Alaska Housing Finance Corporation, expressed appreciation for the Rules Committee consideration of the proposed committee substitute which will resolve a problem with their program. The committee substitute adds in new sections 2 and 3. Mr. Bitney explained the purpose of the legislation is to make some technical changes to their senior revolving loan fund that the corporation uses to make loans for senior housing programs. The program was originally set up under the Department of Community and Regional Affairs, However, when the program was put under AHFC, the statutes were merged and there were some technical problems within that program because of the way the statutes were merged, and this resulted in AHFC not really being able to use it and offer competitive rates. Mr. Bitney said since the merger AHFC has been making senior loans through their Special Needs Multi-Family Program, but they think it is much simpler to use the senior program for senior projects. The amendment to SB 223 will make it one fund so that the process will be much simpler and clearer to both the bond holder and the person getting the loan. CHAIRMAN KELLY noted Kay Murphy of AHFC was listening to the meeting via teleconference from Anchorage, however, she had nothing to add to Mr. Bitney's testimony. He then asked for a calendaring motion on SB 223. SENATOR LEMAN moved and asked unanimous consent CSSB 223(RLS) be approved for calendaring at the discretion of the Chair. Hearing no objection, it was so ordered.
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