SB 11-FLOOD INSURANCE  1:46:35 PM CHAIR BJORKMAN reconvened the meeting and announced the consideration of SENATE BILL NO. 11 "An Act relating to flood insurance; relating to property insurance; establishing the Alaska Flood Authority and the Alaska flood insurance fund; and providing for an effective date." 1:47:23 PM SENATOR BERT STEDMAN, District A, Alaska State Legislature, Juneau, Alaska, as sponsor of SB 11, presented a brief recap and stated that this bill proposes creating a state-level flood insurance program to replace FEMA's program. He said FEMA premiums are too high, actual losses in Alaska are low, and FEMA's building restrictions unnecessarily limit shoreline development. He noted that most Alaska communities already have planning commissions capable of regulating construction locally. SB 11 aims to lower costs, expand insurance benefits, and return building control to the state and local level. He said that FEMA is financially strained by heavy risk exposure in other regions, leaving Alaskans subsidizing those areas. He stated his belief that the state is financially strong enough to provide better, more responsive support for its own citizens. 1:50:16 PM SENATOR GRAY-JACKSON said she received a letter from the Anchorage Planning Department that said the department would not recommend establishing a public body or authority, as it could encourage or subsidize development in areas with elevated natural hazard risks. 1:51:04 PM CHAIR BJORKMAN stated that new flood maps were recently released, and some people have raised concerns because areas shown on the maps have rarely, if ever, experienced flooding. He asked if these maps, or any future flood maps, would affect who is included or excluded from using the new state insurance program. 1:51:37 PM SENATOR STEDMAN deferred the question to the Director of the Division of Insurance, Lori Wing-Heir. 1:51:59 PM LORI WING-HEIER, DIRECTOR, Division of Insurance, Anchorage, Alaska, answered questions relating to SB 11 and stated that this new legislation would establish an authority that would review flood maps. In some cases, it may adopt federal maps, but in others it could create its own, identifying which properties are truly at risk based on actual flooding history. 1:53:30 PM CHAIR BJORKMAN opened public testimony on SB 11; finding none, he closed public testimony. 1:54:02 PM CHAIR BJORKMAN solicited the will of the committee. 1:54:06 PM SENATOR MERRICK moved to report SB 11, work order 34-LS0134\A, from committee with individual recommendations and attached fiscal note(s). 1:54:19 PM CHAIR BJORKMAN found no objection and SB 11 was reported from the Senate Labor and Commerce Standing Committee.