HB 85-FINANCIAL INSTITUTIONS; LIABILITY                                                                         
                                                                                                                                
3:24:54 PM                                                                                                                    
                                                                                                                                
CO-CHAIR  SPOHNHOLZ announced  that the  first 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."   [Before the  committee, adopted as  a work  draft during                                                               
the  meeting on  4/29/21, was  the proposed  committee substitute                                                               
(CS)  for   HB  85,   Version  32-LS0371\I,   Bannister,  4/17/21                                                               
("Version I")].                                                                                                                 
                                                                                                                                
3:25:38 PM                                                                                                                    
                                                                                                                                
The committee took an at-ease from 3:25 p.m. to 3:27 p.m.                                                                       
                                                                                                                                
3:27:16 PM                                                                                                                    
                                                                                                                                
CO-CHAIR SPOHNHOLZ opened  public testimony on HB  85, Version I.                                                               
After  ascertaining that  no one  wished to  testify, she  closed                                                               
public testimony.                                                                                                               
                                                                                                                                
3:27:32 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  BART LEBON,  Alaska State  Legislature, as  prime                                                               
sponsor of  HB 85, thanked  the committee and the  Alaska Bankers                                                               
Association  and   expressed  his   approval  of   the  committee                                                               
substitute (CS).                                                                                                                
                                                                                                                                
3:28:05 PM                                                                                                                    
                                                                                                                                
CO-CHAIR FIELDS  moved to report  the CS  for HB 85,  Version 32-                                                               
LS0371\I, Bannister,  4/17/21, out  of committee  with individual                                                               
recommendations and  the accompanying fiscal notes.   There being                                                               
no objection,  CSHB 85(L&C) was  reported out of the  House Labor                                                               
and Commerce Standing Committee.