05/11/2002 10:40 AM Senate RLS

SENATOR ELLIS  moved to calendar  SB 268-GUARANTEED  REVENUE BONDS                                                          
FOR  VETERANS with  its attached  fiscal notes  at the  Chairman's                                                          
discretion.                                                                                                                     
                                                                                                                                
CHAIRMAN PHILLIPS  asked why Korean War veterans  are not included                                                              
in this bill.                                                                                                                   
                                                                                                                                
MR. JOHN BITTNEY, Alaska Housing  Finance Corporation (AHFC), told                                                              
members that  the program is governed  by federal rules  under the                                                              
U.S. tax  code that qualify the  bonds for a tax  exemption. Under                                                              
the U.S.  tax code,  the term  "qualified veteran"  is defined  as                                                              
someone who  served prior to January  1, 1977 or cannot  have been                                                              
discharged  more  than   30  years  prior  to  the   date  of  the                                                              
application of the  loan. AHFC is supporting measures  in Congress                                                              
right now that will expand the definition  and the legislature has                                                              
voted in unanimous support of sending  a resolution to Congress to                                                              
support those measures.                                                                                                         
                                                                                                                                
CHAIRMAN  PHILLIPS  noted  that   with  no  further  questions  or                                                              
objections, SB 268 would be calendared.