Legislature(2023 - 2024)ADAMS 519

03/09/2023 01:30 PM House FINANCE

Note: the audio and video recordings are distinct records and are obtained from different sources. As such there may be key differences between the two. The audio recordings are captured by our records offices as the official record of the meeting and will have more accurate timestamps. Use the icons to switch between them.

Download Mp3. <- Right click and save file as

Audio Topic
01:36:33 PM Start
01:37:31 PM HB62
02:13:47 PM Adjourn
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
Heard & Held
-- Public Testimony --
+ Bills Previously Heard/Scheduled TELECONFERENCED
                  HOUSE FINANCE COMMITTEE                                                                                       
                       March 9, 2023                                                                                            
                         1:36 p.m.                                                                                              
1:36:33 PM                                                                                                                    
CALL TO ORDER                                                                                                                 
Co-Chair Foster  called the House Finance  Committee meeting                                                                    
to order at 1:36 p.m.                                                                                                           
MEMBERS PRESENT                                                                                                               
Representative Bryce Edgmon, Co-Chair                                                                                           
Representative Neal Foster, Co-Chair                                                                                            
Representative Julie Coulombe                                                                                                   
Representative Mike Cronk                                                                                                       
Representative Alyse Galvin                                                                                                     
Representative Sara Hannan                                                                                                      
Representative Andy Josephson                                                                                                   
Representative Dan Ortiz                                                                                                        
Representative Will Stapp                                                                                                       
Representative Frank Tomaszewski                                                                                                
MEMBERS ABSENT                                                                                                                
Representative DeLena Johnson, Co-Chair                                                                                         
ALSO PRESENT                                                                                                                  
Laib  Allensworth,   Staff,  Representative   Bryce  Edgmon;                                                                    
Curtis Thayer, Executive  Director, Alaska Energy Authority,                                                                    
Department of Commerce,  Community and Economic Development;                                                                    
John Sonin, Civilized Humanity, Juneau.                                                                                         
PRESENT VIA TELECONFERENCE                                                                                                    
Michael Rovito,  Deputy Director, Alaska  Power Association,                                                                    
Anchorage; Chris Rose,  Executive Director, Renewable Energy                                                                    
Alaska  Project,  Sutton;   Matt  Jackson,  Climate  Program                                                                    
Manager,  Southeast Alaska  Conservation Council  and Alaska                                                                    
Climate Alliance, Sitka.                                                                                                        
HB 62     RENEWABLE ENERGY GRANT FUND                                                                                           
          HB 62 was HEARD and HELD in committee for further                                                                     
Co-Chair Foster reviewed the meeting agenda.                                                                                    
HOUSE BILL NO. 62                                                                                                             
     "An Act relating to the renewable energy grant fund                                                                        
     and recommendation program; and providing for an                                                                           
     effective date."                                                                                                           
1:37:31 PM                                                                                                                    
REPRESENTATIVE   BRYCE  EDGMON,   SPONSOR,  introduced   the                                                                    
legislation.  The  bill   would  reauthorize  the  Renewable                                                                    
Energy Grant Program for an  additional 10 years. He thought                                                                    
he may be the only current  House member who had been in the                                                                    
legislature  at  the  time   the  original  legislation  was                                                                    
passed.  The program  had started  in 2008  with substantial                                                                    
capitalization and as  oil prices dipped down  after 2008 it                                                                    
relied largely  on year-to-year  funding. He  explained that                                                                    
when oil  prices had been  extremely high in 2007  and 2008,                                                                    
the program  had been  created with the  idea that  it would                                                                    
provide up  to about  $50 million in  the first  five years.                                                                    
The  program provided  grants to  entities around  the state                                                                    
for  startup  work  on renewable  energy  projects  such  as                                                                    
feasibility,  design, and  engineering. Over  the years  the                                                                    
program  had  been  quite  successful  and  had  capitalized                                                                    
nearly 250  grants over  its lifetime  with 94  projects and                                                                    
about  $275 million  along with  funding contributed  by the                                                                    
state.  He emphasized  the program  had been  a conduit  for                                                                    
attracting outside  funding sources  such as  federal monies                                                                    
up to the tune of about $300 million.                                                                                           
Co-Chair  Edgmon believed  the  program  merited another  10                                                                    
years  of reauthorization.  He stated  that some  may wonder                                                                    
why  there was  a  sunset date  on the  program  at all.  He                                                                    
explained the program was incumbent  upon state funding with                                                                    
attached  performance   metrics  on  a   year-to-year  basis                                                                    
through  the Alaska  Energy Authority  (AEA). The  bill came                                                                    
with a  fiscal note  of $1.4 million.  He relayed  the costs                                                                    
were  already  embedded  in  the  governor's  FY  24  budget                                                                    
submission that came out in  December. He asked his staff to                                                                    
review the sectional analysis.                                                                                                  
LAIB  ALLENSWORTH,   STAFF,  REPRESENTATIVE   BRYCE  EDGMON,                                                                    
reviewed the sectional analysis (copy on file):                                                                                 
     Sec 1.  Amends Section 5, Ch. 31, SLA 2008, as                                                                             
     previously amended, to extend the repeal date of the                                                                       
     fund to June 30, 2033.                                                                                                     
     Sec 2.  Makes the sunset extension retroactive to                                                                          
     June 30, 2023 if the bill takes effect after the Fund                                                                      
     sunsets on that date.                                                                                                      
     Sec 3.  Establishes an immediate effective date under                                                                      
     AS 01.10.070(c).                                                                                                           
Co-Chair  Foster  noted  Mr.  Curtis  Thayer  with  AEA  was                                                                    
available for any questions.                                                                                                    
1:41:53 PM                                                                                                                    
Representative  Hannan directed  a question  to Mr.  Thayer.                                                                    
She  considered  there was  a  dollar  amount governing  the                                                                    
number of  projects that could be  done in a year  or budget                                                                    
cycle. She  asked if there was  a list of the  total need if                                                                    
the state  tried to capitalize  all of the  renewable energy                                                                    
projects. She clarified she was  not suggesting an amendment                                                                    
to the legislation. She wondered  if there were currently $1                                                                    
billion in projects versus $2 million.                                                                                          
CURTIS THAYER, EXECUTIVE  DIRECTOR, ALASKA ENERGY AUTHORITY,                                                                    
DEPARTMENT OF COMMERCE,  COMMUNITY AND ECONOMIC DEVELOPMENT,                                                                    
replied that the  program was designed to  go through rounds                                                                    
and applications  of interest. The program  had gone through                                                                    
several  rounds  where  it  had  not  received  funding.  He                                                                    
elaborated that two  years ago the program  had $4.7 million                                                                    
with 11  applicants, last year  the program had  $15 million                                                                    
available  with  27 applicants,  and  the  current year  was                                                                    
round 15 with  $21.5 million and 33  applicants. The program                                                                    
went  through an  evaluation on  the economics,  technology,                                                                    
and  feasibility  of a  project.  He  explained that  people                                                                    
applied for  funding and AEA  reviewed the  applications and                                                                    
based  awarded   funding  on  the  recommendations   of  the                                                                    
legislature.  He  noted  AEA had  a  renewable  energy  fund                                                                    
advisory committee comprised of  five members of the public,                                                                    
two members of the House and  two members of the Senate. The                                                                    
program  did not  encompass everything,  but it  encompassed                                                                    
communities  for  feasibility,   reconnaissance,  and  early                                                                    
projects. He  highlighted that the program  had displaced 30                                                                    
million gallons  of diesel  fuel. He  reported that  AEA was                                                                    
currently doing an  evaluation of the program  with a third-                                                                    
party economist to bring updated  numbers to the legislature                                                                    
on the success of the program since inception.                                                                                  
1:44:43 PM                                                                                                                    
Representative Galvin wanted to  ensure the record reflected                                                                    
that the program  replaced 30 million gallons  of diesel per                                                                    
Mr. Thayer replied affirmatively.                                                                                               
Representative  Galvin  highlighted   new  incoming  federal                                                                    
funding  for projects,  particularly aligned  with renewable                                                                    
energy  pieces. She  asked if  the program  complimented the                                                                    
incoming funding  well. She referenced  the 33  projects and                                                                    
wondered  if applicants  would look  stronger  if there  was                                                                    
more state support.                                                                                                             
Mr. Thayer answered  that the program had  not been designed                                                                    
to support the federal funding  that was now coming through.                                                                    
He relayed that AEA  was finding that because reconnaissance                                                                    
work, feasibility,  and early design  had been done,  it had                                                                    
better-positioned some  projects that had been  on the shelf                                                                    
to allow  them to receive federal  funding primarily through                                                                    
the  Infrastructure  Investment  and  Jobs  Act  (IIJA).  He                                                                    
highlighted  the Hiilangaay  hydroelectric project  that had                                                                    
taken Prince of  Wales Island to 95 percent  renewable as an                                                                    
example  of  a  project  started  with  grants  through  the                                                                    
program.  He noted  there were  over 100  different projects                                                                    
that had  done so. He  relayed that  over 80 percent  of the                                                                    
program funding had gone to  rural Alaska because one of the                                                                    
economic standards  was the cost  of energy in  a community.                                                                    
He cited  King Cove as  another hydro project 20  years back                                                                    
that had received funding the  program. The project resulted                                                                    
in costs of $0.14 to $0.15  per kilowatt as opposed to $0.19                                                                    
on  the Railbelt.  He  stated the  program  had resulted  in                                                                    
successes  across  the  board.  He noted  he  could  provide                                                                    
members  with  program  detail  broken  out  by  legislative                                                                    
1:47:17 PM                                                                                                                    
Representative Ortiz  was supportive of the  program and the                                                                    
bill. He highlighted the variance  in projects from year-to-                                                                    
year  that Mr.  Thayer had  reviewed. He  asked if  the fund                                                                    
balance  varied  significantly because  federal  opportunity                                                                    
varied from  year-to-year. He asked for  the current balance                                                                    
of the Renewable Energy Fund.                                                                                                   
Mr.  Thayer   answered  that  the   balance  was   what  the                                                                    
legislature  obligated for  the fund.  In 2022,  the program                                                                    
had received  $15 million  and had  funded 27  projects. The                                                                    
year  prior  had  been  $4.7   million  in  funding  for  11                                                                    
projects.  Subsequent to  that timeframe  there had  been no                                                                    
funding for  seven to eight  years. He explained  that after                                                                    
the  projects were  reviewed by  the  Renewable Energy  Fund                                                                    
Advisory Committee, the list of  projects and dollar amounts                                                                    
were sent  to the legislature.  He noted that how  the funds                                                                    
could  be parlayed  into additional  state or  federal funds                                                                    
was a  different conversation.  He detailed  that applicants                                                                    
applied  to be  included in  a round  and the  projects were                                                                    
Representative Ortiz  looked at  the fiscal note  showing an                                                                    
ongoing  $1.4 million  appropriation to  the fund.  He asked                                                                    
for  verification  that  it  did  not  sidestep  the  yearly                                                                    
legislative  process where  it could  decide to  appropriate                                                                    
money for particular projects.                                                                                                  
Mr. Thayer  answered that AEA  did not have  dedicated staff                                                                    
for  the  program. The  program  was  administered by  AEA's                                                                    
planning department  and its engineers and  project managers                                                                    
(who  were  subject  matter  experts  on  renewable  energy)                                                                    
served  as advisory  and technical  side.  Depending on  the                                                                    
size   of  the   appropriation,  the   administrative  costs                                                                    
averaged to  be $1.4  million. Years  back, the  program had                                                                    
received  a $50  million appropriation,  which had  cost AEA                                                                    
$2.2  million to  administer and  oversee  the projects.  He                                                                    
reported that  AEA was currently  managing over  44 projects                                                                    
and  its cost  was  approximately $1.4  million. He  relayed                                                                    
that  part  of the  cost  was  due  to  AEA's work  with  an                                                                    
independent  third-party  economist  to  help  identify  the                                                                    
economics.  Additionally,  AEA   had  an  RSA  [reimbursable                                                                    
services   agreement]  with   the   Department  of   Natural                                                                    
Resources to help in the evaluation process.                                                                                    
1:50:23 PM                                                                                                                    
Representative  Ortiz  asked   for  verification  the  [$1.4                                                                    
million] amount  was the average  cost of  administering the                                                                    
amount of money the legislature appropriated annually.                                                                          
Mr. Thayer agreed.                                                                                                              
Representative Cronk  looked at  a project list  included in                                                                    
members'  packets  [titled  "Renewable  Energy  Projects  by                                                                    
Energy  Region  as  of  February   7,  2023"].  He  observed                                                                    
numerous projects on  the list were closed. He  asked if the                                                                    
projects highlighted in blue were new.                                                                                          
Mr. Thayer  answered that projects highlighted  in blue were                                                                    
active.  He  noted they  did  not  include the  33  projects                                                                    
currently  under review  in round  15  that the  legislature                                                                    
would see in early April.                                                                                                       
Representative Cronk looked  at a column on  the list titled                                                                    
"Native Corporation." He asked for detail.                                                                                      
Mr. Thayer  replied the list  was broken down by  region and                                                                    
specified the  Native corporation  specific to  the regions.                                                                    
The list also included the  specific technology used in each                                                                    
project, the  state region, and  the cost of power  for each                                                                    
community listed.                                                                                                               
Representative Cronk  asked if there were  excess funds from                                                                    
the  Power Cost  Equalization  (PCE) program  that could  be                                                                    
directed towards additional projects.                                                                                           
Mr.  Thayer answered  affirmatively. He  elaborated that  of                                                                    
any excess earnings from the  PCE endowment, the first money                                                                    
went  to the  PCE  program,  the next  $30  million went  to                                                                    
community assistance, and then  there was a waterfall effect                                                                    
where a  percentage of excess  earnings could go  into three                                                                    
buckets  for  power houses,  the  Bulk  Fuel Revolving  Loan                                                                    
Program, and  the Renewable Energy  Fund. He  explained that                                                                    
in  2022,  $15  million  had been  committed  from  the  PCE                                                                    
program  to  support  round  14. He  noted  that  since  the                                                                    
inception  of the  Renewable Energy  Fund, PCE  earnings had                                                                    
only been used twice. The  program fund source was primarily                                                                    
general funds. He informed the  committee that the predicted                                                                    
earnings would  not support the  waterfall effect  in future                                                                    
years due  to the dip in  the market and some  issues within                                                                    
the PCE endowment.                                                                                                              
1:53:02 PM                                                                                                                    
Representative  Stapp  asked  about the  regulatory  statute                                                                    
definition that included renewable,  facilities, and gas. He                                                                    
highlighted new  45Q ammonia tax  credits. He wondered  if a                                                                    
regulatory update  in statutory  guidance was needed  in the                                                                    
event a project wanted to go down that route.                                                                                   
Co-Chair Edgmon replied that he  would follow up. He did not                                                                    
recall the  topic coming up  during research on the  bill or                                                                    
during  his  years on  the  Renewable  Energy Fund  Advisory                                                                    
Representative Galvin  noted that the bill  packet documents                                                                    
showed a  couple of different  dates pertaining to  round 15                                                                    
and  the  33  projects.  She   noted  that  Mr.  Thayer  had                                                                    
mentioned  that   the  legislature  would  hear   about  the                                                                    
projects in April. She asked for clarification on the date.                                                                     
Mr. Thayer  replied that round  15 was not  currently before                                                                    
the  legislature.   He  detailed  that  AEA   was  currently                                                                    
evaluating the  project list and  it had been  delayed until                                                                    
March. He explained that two  members of the House needed to                                                                    
be appointed  to the committee  and had not yet  been named.                                                                    
Senators  David  Wilson and  Bert  Stedman  were the  Senate                                                                    
members. He  noted his  April estimate provided  a bit  of a                                                                    
fudge  factor to  allow time  for  the House  members to  be                                                                    
Co-Chair Edgmon  stated the actual  funding for  the current                                                                    
year  was  about  $15  million.  He  believed  there  was  a                                                                    
placeholder  of $7.5  million currently  in the  budget that                                                                    
could  be  increased  depending   on  what  the  legislature                                                                    
decided what  to do. He  highlighted that  historically most                                                                    
of the  appropriations had  been undesignated  general funds                                                                    
(UGF) with a couple of  years receiving excess earnings from                                                                    
the  PCE endowment.  He stated  that unfortunately,  the PCE                                                                    
endowment had  gone backwards  in value and  did not  have a                                                                    
surplus in  the past fiscal  year. He relayed  that whatever                                                                    
funding came forward  for the projects would  likely have to                                                                    
come through a separate appropriation.                                                                                          
Representative Galvin thought  it made sense to  look at the                                                                    
history of good work done  and for the legislature to extend                                                                    
a  bit of  faith by  providing the  funds towards  a program                                                                    
that  would bring  returns in  plentiful ways,  particularly                                                                    
for  rural  Alaska that  was  struggling  with the  cost  of                                                                    
diesel.  She underscored  the  previous  statement that  the                                                                    
program  displaced  30  million  gallons  [of  diesel].  She                                                                    
emphasized it was a lot of work and thanked Mr. Thayer.                                                                         
1:57:27 PM                                                                                                                    
Representative  Josephson  asked  about AEA's  tolerance  to                                                                    
handle extra money and resources.  He asked about a scenario                                                                    
where the  legislature decided to  provide the  program with                                                                    
more resources. He asked if AEA  would open up the rounds to                                                                    
more applicants. Alternatively, he  wondered if the scenario                                                                    
would become a workforce or carrying capacity problem.                                                                          
Mr. Thayer responded  that one area where  the program could                                                                    
be expanded  if additional funding was  available was making                                                                    
more money available for communities.  He explained that AEA                                                                    
had that  flexibility up  to $4 million  but when  money was                                                                    
tight applicants were limited to  $1 million or a $2 million                                                                    
cap. He  elaborated that [with  additional funding]  the cap                                                                    
could fluctuate.  The administering of the  program was done                                                                    
currently  with   internal  resources  and   subject  matter                                                                    
experts.  He highlighted  that AEA  was requesting  five new                                                                    
positions in its operating budget.                                                                                              
Mr. Thayer detailed  that when AEA had  submitted its budget                                                                    
in  January  it  had  $74 million  of  infrastructure  funds                                                                    
coming  forward. He  underscored that  now in  March it  had                                                                    
$175  million coming  through the  agency.  He relayed  that                                                                    
staffing would be an issue  and would require a conversation                                                                    
with  the  legislature     the  agency  had  already  had  a                                                                    
conversation with  the governor. The agency  had started the                                                                    
approval process  for the positions,  but positions  had not                                                                    
been   filled.   He   believed  there   would   be   another                                                                    
conversation about  the agency's total workload.  The agency                                                                    
currently had  32 staff and  $202 million  in infrastructure                                                                    
projects, $175  million in  capital primarily  through IIJA,                                                                    
and bonding of $166  million for transmission upgrades along                                                                    
the Railbelt. He stressed that the  agency had a lot of work                                                                    
going on.                                                                                                                       
Representative Hannan  noted that  Co-Chair Edgmon  had used                                                                    
the phrase  "a placeholder  of $7.5  million." She  asked if                                                                    
the  increment was  in  the capital  budget.  She asked  for                                                                    
verification funds  would be included in  the capital budget                                                                    
if the legislature  decided to add additional  money for the                                                                    
Co-Chair Edgmon replied affirmatively.                                                                                          
Representative Cronk  looked at  the project list  and asked                                                                    
how many  interior wood boilers  were still working.  He was                                                                    
not certain the  state had figured out what  worked best. He                                                                    
believed some things  were not working best.  He requested a                                                                    
list showing  which of the  wood boiler projects  were still                                                                    
working  and what  was still  working (i.e.,  wood, pellets,                                                                    
chips).  He wanted  to ensure  projects used  solutions that                                                                    
would work continuously.                                                                                                        
2:00:56 PM                                                                                                                    
Mr. Allensworth  replied that  he would  be happy  to review                                                                    
the  fuel  sources used  by  the  projects in  the  specific                                                                    
region. He  offered to meet with  Representative Cronk after                                                                    
the meeting.                                                                                                                    
Co-Chair Foster OPENED public testimony.                                                                                        
2:02:18 PM                                                                                                                    
JOHN  SONIN,  CIVILIZED   HUMANITY,  JUNEAU,  supported  the                                                                    
extension of  the Renewable Energy Fund.  He highlighted the                                                                    
current climate  conundrum and believed it  was necessary to                                                                    
continue   to  facilitate   renewable   sources  of   energy                                                                    
production for as  long as possible. He had  been made aware                                                                    
of how microgrids or personal  panels on homes were becoming                                                                    
cheaper  than  oil  to  heat  homes.  The  transition  would                                                                    
require  government synergy  to help  monitor and  steer the                                                                    
direction  to a  sustainable and  opportunity filled  future                                                                    
for the state's  children. He asked the  committee to extend                                                                    
the  program  for as  long  as  possible. He  supported  the                                                                    
2:06:07 PM                                                                                                                    
MICHAEL ROVITO,  DEPUTY DIRECTOR, ALASKA  POWER ASSOCIATION,                                                                    
ANCHORAGE (via  teleconference), provided  information about                                                                    
the   Alaska  Power   Association.   The  organization   was                                                                    
supportive  of  the  legislation and  strongly  urged  quick                                                                    
passage of  the bill. He  thanked the bill sponsor.  He read                                                                    
from a prepared statement:                                                                                                      
     Many  of Alaska  Power  Association's electric  utility                                                                    
     members   have  received   crucial  funding   from  the                                                                    
     Renewable Energy Fund since  its inception. These funds                                                                    
     have  supported   the  addition  of   renewable  energy                                                                    
     projects that  have diversified  generation portfolios,                                                                    
     helped  to stabilize  rates,  and  decrease the  carbon                                                                    
     footprint   of   electric  generation.   The   valuable                                                                    
     financial  assistance  of  the  Renewable  Energy  Fund                                                                    
     cannot be  overstated. On  providing grant  funding for                                                                    
     projects, the  program helps alleviate project  cost to                                                                    
     ratepayers,  while increasing  clean energy  generation                                                                    
     in the  state. There  are also numerous  projects under                                                                    
     consideration  featured around  the  grant funding  for                                                                    
     the  Renewable Energy  Fund.  These  projects, as  past                                                                    
     projects have,  will be  chosen through  a deliberative                                                                    
     process  run   by  the  Alaska  Energy   Authority  and                                                                    
     reviewed   by  the   Renewable  Energy   Fund  Advisory                                                                    
     Finally, by  extending the sunset date  of the program,                                                                    
     electric utilities will  continue to have opportunities                                                                    
     to receive funds for renewable  energy projects as they                                                                    
    continue innovating the power systems of the state.                                                                         
2:08:13 PM                                                                                                                    
CHRIS  ROSE,  EXECUTIVE  DIRECTOR, RENEWABLE  ENERGY  ALASKA                                                                    
PROJECT  (REAP),  SUTTON   (via  teleconference),  spoke  in                                                                    
strong support of  the legislation. He shared  that REAP had                                                                    
been an advocate for renewable  energy and energy efficiency                                                                    
throughout  the  state  since   2004.  He  shared  that  the                                                                    
organization  had helped  develop  the  original program  in                                                                    
2007.  He  highlighted  that the  fund  had  developed  many                                                                    
projects helping to  save over 30 million  gallons of diesel                                                                    
per year. The fund had also  put Alaska on the global map in                                                                    
terms  of  its  ability   to  develop  renewable  energy  in                                                                    
isolated  microgrids  that  primarily  run  on  diesel.  The                                                                    
organization had  hosted numerous conferences over  the past                                                                    
15 years showcasing some of  the success stories mostly from                                                                    
rural Alaskan  communities. He  emphasized that  the program                                                                    
had  been good  for Alaskan  communities and  the state.  He                                                                    
reiterated REAP's support for the extension of the program.                                                                     
2:09:47 PM                                                                                                                    
MATT  JACKSON,  CLIMATE  PROGRAM MANAGER,  SOUTHEAST  ALASKA                                                                    
CONSERVATION  COUNCIL  AND  ALASKA CLIMATE  ALLIANCE,  SITKA                                                                    
(via teleconference),  spoke in support of  the legislation.                                                                    
He highlighted  the statistic  cited throughout  the meeting                                                                    
specifying  that  30  million  gallons of  diesel  had  been                                                                    
avoided. He  informed the committee  that the  statistic was                                                                    
from 2017;  therefore, the amount of  diesel avoided through                                                                    
Renewable Energy Fund was in  fact much greater. He provided                                                                    
context  and  explained  that under  a  scenario  where  the                                                                    
average price of  diesel in Alaska was $6 per  gallon in the                                                                    
past year  (he understood the  cost was much higher  in many                                                                    
locations),  $180 million  had been  saved on  diesel around                                                                    
the  state in  a single  year.  There would  continue to  be                                                                    
savings  into  the  future. He  remarked  that  the  savings                                                                    
reflected   a   very   impressive  return   on   investment.                                                                    
Additionally, the  figure represented 671 million  pounds of                                                                    
CO2  diverted from  the atmosphere.  He strongly  encouraged                                                                    
the  legislature   to  generously   fund  the   program.  He                                                                    
underscored it  was a  very good  investment in  the state's                                                                    
2:12:31 PM                                                                                                                    
Co-Chair Foster CLOSED public testimony.                                                                                        
Co-Chair Edgmon thanked the committee  for hearing the bill.                                                                    
He appreciated the good questions and thoughtful dialogue.                                                                      
HB  62  was   HEARD  and  HELD  in   committee  for  further                                                                    
Co-Chair Foster announced an amendment  deadline of noon the                                                                    
following  Tuesday.   He  reviewed  the  schedule   for  the                                                                    
following meeting.                                                                                                              
2:13:47 PM                                                                                                                    
The meeting was adjourned at 2:13 p.m.                                                                                          

Document Name Date/Time Subjects
HB 62 Additional Document - REF Update Letter to Legislature from AEA 02.24.2023.pdf HFIN 3/9/2023 1:30:00 PM
SFIN 3/28/2023 9:00:00 AM
HB 62
HB 62 Additonal Document - REF Projects by Energy Region by AEA 02.24.2023.pdf HFIN 3/9/2023 1:30:00 PM
SFIN 3/28/2023 9:00:00 AM
HB 62
HB 62 Sectional Analysis Version A 2.24.2023.pdf HFIN 3/9/2023 1:30:00 PM
HB 62
HB 62 Sponsor Statement Version A 2.24.2023.pdf HFIN 3/9/2023 1:30:00 PM
HB 62
HB62- Additional Document REF Fact Sheet by AEA 2.24.2023.pdf HFIN 3/9/2023 1:30:00 PM
SFIN 3/28/2023 9:00:00 AM
HB 62
HB 62 APA Support 030323.pdf HFIN 3/9/2023 1:30:00 PM
HB 62
HB 62 Thayer AEA Testimony HFIN 030923.pdf HFIN 3/9/2023 1:30:00 PM
HB 62