HOUSE BILL NO. 424                                                                                                            
                                                                                                                                
     "An Act providing  for and relating to  the issuance of                                                                    
     general obligation  bonds in a principal  amount of not                                                                    
     more  than $1,000,000  for the  purpose  of paying  the                                                                    
     cost of  education projects for public  schools and the                                                                    
     University of  Alaska; and  providing for  an effective                                                                    
     date."                                                                                                                     
                                                                                                                                
9:09:02 AM                                                                                                                    
                                                                                                                                
JAMES   ARMSTRONG,  STAFF,   REPRESENTATIVE  BILL   STOLTZE,                                                                    
explained that the legislation  would appropriate $1 million                                                                    
to  the Education  Project Fund  and would  be similar  to a                                                                    
measure voters  passed in  2002 for  $236 million.  He noted                                                                    
that a CS was forthcoming.                                                                                                      
                                                                                                                                
HB 424 was HEARD and HELD in Committee for further                                                                              
consideration.