Legislature(2019 - 2020)BELTZ 105 (TSBldg)
05/13/2019 01:30 PM Senate LABOR & COMMERCE
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| Audio | Topic |
|---|---|
| Start | |
| HB104 | |
| HB44 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 104 | TELECONFERENCED | |
| *+ | HB 44 | TELECONFERENCED | |
| + | TELECONFERENCED |
ALASKA STATE LEGISLATURE
SENATE LABOR AND COMMERCE STANDING COMMITTEE
May 13, 2019
5:26 p.m.
MEMBERS PRESENT
Senator Lora Reinbold, Chair
Senator Mia Costello, Vice Chair
Senator Click Bishop
Senator Chris Birch
Senator Elvi Gray-Jackson
MEMBERS ABSENT
All members present
COMMITTEE CALENDAR
COMMITTEE SUBSTITUTE FOR HOUSE BILL NO. 104(L&C) AM
"An Act relating to exemptions from mortgage lender, mortgage
broker, and mortgage loan originator licensing requirements; and
providing for an effective date."
- MOVED CSHB 104(L&C) AM OUT OF COMMITTEE
HOUSE BILL NO. 44
"An Act relating to fees for using an automated teller machine;
and providing for an effective date."
- MOVED HB 44 OUT OF COMMITTEE
PREVIOUS COMMITTEE ACTION
BILL: HB 104
SHORT TITLE: MORTGAGE LOAN ORIGINATOR LICENSING
SPONSOR(s): REPRESENTATIVE(s) WILSON
03/25/19 (H) READ THE FIRST TIME - REFERRALS
03/25/19 (H) L&C
04/10/19 (H) L&C AT 3:15 PM BARNES 124
04/10/19 (H) -- MEETING CANCELED --
04/17/19 (H) L&C AT 3:15 PM BARNES 124
04/17/19 (H) -- MEETING CANCELED --
04/26/19 (H) L&C AT 3:15 PM BARNES 124
04/26/19 (H) Heard & Held
04/26/19 (H) MINUTE(L&C)
04/29/19 (H) L&C AT 3:15 PM BARNES 124
04/29/19 (H) Moved CSHB 104(L&C) Out of Committee
04/29/19 (H) MINUTE(L&C)
05/01/19 (H) L&C RPT CS(L&C) NT 2DP 5NR
05/01/19 (H) DP: HANNAN, LEDOUX
05/01/19 (H) NR: REVAK, STUTES, TALERICO, FIELDS,
WOOL
05/10/19 (H) TRANSMITTED TO (S)
05/10/19 (H) VERSION: CSHB 104(L&C) AM
05/10/19 (S) READ THE FIRST TIME - REFERRALS
05/10/19 (S) L&C
05/10/19 (S) L&C AT 1:30 PM BELTZ 105 (TSBldg)
05/10/19 (S) Heard & Held
05/10/19 (S) MINUTE(L&C)
05/13/19 (S) L&C AT 1:30 PM BELTZ 105 (TSBldg)
BILL: HB 44
SHORT TITLE: AUTOMATED TELLER MACHINES: FEES
SPONSOR(s): REPRESENTATIVE(s) ORTIZ
02/20/19 (H) READ THE FIRST TIME - REFERRALS
02/20/19 (H) L&C
03/18/19 (H) L&C AT 3:15 PM BARNES 124
03/18/19 (H) Heard & Held
03/18/19 (H) MINUTE(L&C)
03/20/19 (H) L&C AT 3:15 PM BARNES 124
03/20/19 (H) Moved HB 44 Out of Committee
03/20/19 (H) MINUTE(L&C)
03/22/19 (H) L&C RPT 5DP 1NR
03/22/19 (H) DP: REVAK, HANNAN, FIELDS, LEDOUX, WOOL
03/22/19 (H) NR: TALERICO
03/22/19 (H) L&C AT 3:15 PM BARNES 124
03/22/19 (H) <Bill Hearing Canceled>
04/05/19 (H) TRANSMITTED TO (S)
04/05/19 (H) VERSION: HB 44
04/08/19 (S) READ THE FIRST TIME - REFERRALS
04/08/19 (S) L&C
05/13/19 (S) L&C AT 1:30 PM BELTZ 105 (TSBldg)
WITNESS REGISTER
REPRESENTATIVE TAMMIE WILSON
Alaska State Legislature
Juneau, Alaska
POSITION STATEMENT: Sponsor of HB 104, provided an overview of
the bill.
REPRESENTATIVE DAN ORTIZ
Alaska State Legislature
Juneau, Alaska
POSITION STATEMENT: Testified as sponsor of HB 44.
ACTION NARRATIVE
5:26:27 PM
CHAIR LORA REINBOLD called the Senate Labor and Commerce
Standing Committee meeting to order at 5:26 p.m. Present at the
call to order were Senators Costello, Birch, Gray-Jackson, and
Chair Reinbold. Senator Bishop arrived shortly thereafter.
HB 104-MORTGAGE LOAN ORIGINATOR LICENSING
5:27:28 PM
CHAIR REINBOLD announced the consideration of HB 104, CS FOR
HOUSE BILL NO. 104(L&C) am, "An Act relating to exemptions from
mortgage lender, mortgage broker, and mortgage loan originator
licensing requirements; and providing for an effective date."
5:27:55 PM
REPRESENTATIVE TAMMIE WILSON, Alaska State Legislature, Juneau,
paraphrased from the sponsor statement for CSHB 104(L&C)AM:
The current Alaska SAFE Act allows a seller to finance
his or her residence. If a person had more than one
residence (a second home for example) they could sell
and finance it themselves without a license under AS
06.60.015(b)(3). If the second home had been rented it
would be considered an income property and the seller
would be required to have a mortgage loan originator
license in order to seller-finance it.
CSHB104(L&C) would allow a person to seller-finance up
to 5 of their own properties which are secured by a
dwelling, whether they are an income property or not.
Interior and more rural community property owners have
parcels with trailers or cabins on them; some with
water and electric, some without. These types of
properties are historically difficult to finance
through the traditional mortgage process and many
times lenders require more money down, shorter loan
terms, higher interest rates, and in some cases, will
not finance them at all.
Those wishing to take on the responsibility of home
ownership and establish roots in the community may
find, for many reasons, that they do not qualify for a
traditional mortgage. Seller financing is another tool
that can be utilized to make it affordable for one to
realize their dream of having a place they can finally
call their home.
Seller financing is a reasonable and practical option
for both sellers and buyers of these type properties.
CSHB 104 would give more opportunity for the dream of
home ownership to those who might not otherwise
realize it and would relieve the financial burden of
bona fide non-profit organizations assisting Alaskans
in making their dream come true.
5:29:02 PM
SENATOR COSTELLO asked if there were any issues with the
retroactivity clause. She asked for further clarification on
whether there was a timeframe and if this allowed for financing
up to five homes per year.
5:29:26 PM
REPRESENTATIVE WILSON agreed the program allowed a person to
seller-finance up to five homes per year under the bill. She
stated that an amendment was adopted on the House floor to make
it retroactive. She clarified that many people in Alaska thought
it was possible for sellers to finance properties.
5:30:08 PM
SENATOR BISHOP reviewed the fiscal note from the Department of
Commerce, Community and Economic Development (DCCED), Banking
and Securities for HB 104.
5:30:36 PM
At ease.
5:31:07 PM
CHAIR REINBOLD called the committee back to order.
SENATOR BISHOP continued. The Office of Management and Budget
component number 2808. He read the bill analysis:
This bill will allow a natural person, estate, trust,
corporation, or another entity to self-finance a
mortgage loan on five or fewer residential properties
owned by the seller during a 12-month period. The
mortgage loan must have an interest rate that is
fixed, payments that do not result in negative
amortization, and cannot impose a prepayment penalty.
The seller determines that the purchaser has a
reasonable ability to repay the loan. The seller
cannot have constructed the dwelling or acted as a
contractor for the construction of the dwelling that
secures the loan. The bill does not require a change
to regulations. The Division of Banking and Securities
does not anticipate any fiscal impacts from this
legislation.
SENATOR BISHOP said the fiscal note was a zero-fiscal note.
5:32:21 PM
CHAIR REINBOLD removed her objection. She reaffirmed that public
testimony was closed on HB 104. She remarked that she previously
held the bill to allow Senator Bishop to participate in the
hearing since Fairbanks residents expressed significant interest
in the bill.
5:33:16 PM
SENATOR COSTELLO moved to report CSHB 104(L&C) AM, version 31-
LS0257\S.A. from committee with individual recommendations and
attached fiscal note.
There being no objection, the motion carried.
5:33:32 PM
At ease.
HB 44-AUTOMATED TELLER MACHINES: FEES
5:34:51 PM
CHAIR REINBOLD reconvened the meeting. She announced the
consideration of HB 44. HOUSE BILL NO. 44, "An Act relating to
fees for using an automated teller machine; and providing for an
effective date."
5:35:08 PM
REPRESENTATIVE DAN ORTIZ, Alaska State Legislature, Juneau,
paraphrased from the sponsor's statement.
The intent of this bill is to allow retail automatic
teller machines (ATMs) to charge a withdraw fee on
transactions made by international bank card holders.
Currently, independently owned ATMs are not able to
charge a fee on transactions made by international
card holders. Our current law only pertains to ATMs
owned by state-sponsored banks or credit unions, and
does not include retail and individually owned ATMs.
Because of this gap, retail ATMs cannot charge a
withdraw fee on transactions from bank cards outside
of the United States.
Alaska welcomes millions of visitors each year, with a
large percentage of those visitors from out of the
country. In the summer of 2016 alone, nearly 300,000
international visitors came to Alaska. Retail ATM
owners cannot charge fees on these tourists'
transactions.
Multiple other states have already passed laws to
close this gap and allow retail ATM owners to charge a
transaction fee to international card holders
5:36:48 PM
SENATOR COSTELLO asked if she has seen the bill previously.
REPRESENTATIVE ORTIZ answered yes. He said that the bill did not
quite make it through the process during the last legislature.
5:37:08 PM
SENATOR BIRCH recalled the bill. He characterized the bill as a
good bill. He thanked Representative Ortiz for bringing the bill
forward.
He remarked on a mid-air crash that happened in Ketchikan that
resulted in loss of life. He offered condolences to
Representative Ortiz and members of the family and community.
REPRESENTATIVE ORTIZ replied that he appreciated the support and
condolences.
5:37:56 PM
CHAIR REINBOLD opened public testimony and after first
determining no one wished to testify, closed public testimony on
HB 44.
5:39:36 PM
SENATOR BISHOP reviewed the fiscal note for HB 44 as follows:
The Department of Commerce, Community and Economic Development
(DCCED), Banking and Securities prepared the fiscal note. The
Office of Management and Budget component number was 2808.
5:40:04 PM
At ease.
5:40:12 PM
CHAIR REINBOLD called the committee back to order.
SENATOR BISHOP continued to review the fiscal note from the
Department of Commerce, Community and Economic Development
(DCCED), Banking and Securities for HB 44 as follows:
He read the zero fiscal note bill analysis, as follows:
The bill will allow an individual or entity who owns
an automated teller machine (ATM) to charge a fee to
conduct a transaction accessing an account from an
international financial institution. The division does
not currently regulate ATM fees. The bill does not
require a change to regulations.
The Division of Banking and Securities does not
anticipate fiscal impact from this legislation.
SENATOR BISHOP reiterated that this is a zero fiscal note.
5:41:19 PM
SENATOR COSTELLO moved to report HB 44, version 31-LS0223\A from
committee with individual recommendations and attached fiscal
note.
There being no objection, HB 44 was reported from the Senate
Labor and Commerce Standing Committee.
5:42:11 PM
There being no further business to come before the committee,
Chair Reinbold adjourned the Senate Labor and Commerce Standing
Committee meeting at 5:42 p.m.
| Document Name | Date/Time | Subjects |
|---|---|---|
| HB 44 VER. A.PDF |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |
| HB 44 Sponsor Statement.pdf |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |
| HB 44 Sectional Analysis VER. A.pdf |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |
| HB 44 Fiscal Note DCCED-DBS 3.20.19.pdf |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |
| HB 44 Additional Document-ATM Location Study 3.15.19.pdf |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |
| HB 44 Supporting Document-Support Letter National ATM Council.pdf |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |
| HB 44 Supporting Document-Support Letters.pdf |
SL&C 5/13/2019 1:30:00 PM |
HB 44 |