HB 85-FINANCIAL INSTITUTIONS; LIABILITY                                                                         
                                                                                                                                
5:11:10 PM                                                                                                                    
                                                                                                                                
CO-CHAIR FIELDS announced that the  final order of business would                                                               
be HOUSE  BILL NO.  85, "An  Act relating  to the  Alaska Banking                                                               
Code; relating  to mutual savings  banks; relating  to interstate                                                               
state banks and international banks;  relating to the pledging of                                                               
bank  assets  as  collateral security  to  tribal  organizations;                                                               
relating  to  the  pledging  of bank  assets  for  interest  swap                                                               
agreements;  relating to  state  business  licenses; relating  to                                                               
persons  who  make  loans  secured by  interests  in  vessels  or                                                               
facilities; relating  to liability for the  release or threatened                                                               
release of  hazardous substances;  relating to the  Model Foreign                                                               
Bank Loan Act; and providing for an effective date."                                                                            
                                                                                                                                
5:11:33 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  BART LEBON,  Alaska State  Legislature, as  prime                                                               
sponsor, introduced the committee substitute (CS) for HB 85.                                                                    
                                                                                                                                
5:11:53 PM                                                                                                                    
                                                                                                                                
CO-CHAIR  SPOHNHOLZ moved  to adopt  the proposed  CS for  HB 85,                                                               
Version  32-LS0371\I, Bannister,  4/17/21 ("Version  I"), as  the                                                               
working document.                                                                                                               
                                                                                                                                
5:12:14 PM                                                                                                                    
                                                                                                                                
CO-CHAIR FIELDS objected for the purpose of discussion.                                                                         
                                                                                                                                
5:12:07 PM                                                                                                                    
                                                                                                                                
JOSEPH  BYRNES, Staff,  Representative Bart  LeBon, detailed  the                                                               
changes  in the  committee  substitute  for HB  85  on behalf  of                                                               
Representative LeBon,  prime sponsor.   He  said that  Section 3,                                                               
subsection  (a),  found on  page  2,  lines  24  and 25,  of  the                                                               
proposed   legislation,   which   previously   required   posting                                                               
statutorily  required reports  on either  the website  or in  the                                                               
lobby,  now would  direct  banks  to post  the  reports on  their                                                               
websites and  would make it optional  to post the reports  in the                                                               
physical lobbies.   He  said the  next change  is in  Section 22,                                                               
subsection  (o), paragraph  (1),  subparagraph (A),  on page  10,                                                               
line  7; this  change  adds the  word  "and" to  the  end of  the                                                               
subparagraph, which  more closely  mirrors the  federal language.                                                               
The  final change,  he said,  is in  Section 22,  subsection (o),                                                               
paragraph (1),  subparagraph (B), sub-subparagraph (iv),  on page                                                               
10,  lines 16-17,  and  replaces "under  this  section" with  "in                                                               
accordance with state law."   He noted that this change, intended                                                               
to provide clarity, was at the request of the Department of                                                                     
Environmental Conservation (DEC).                                                                                               
                                                                                                                                
5:14:47 PM                                                                                                                    
                                                                                                                                
CO-CHAIR FIELDS removed his objection.  There being no further                                                                  
objection, Version I was before the committee.                                                                                  
                                                                                                                                
CO-CHAIR FIELDS announced that HB 85 was held over.