SB 69-GEOTHERMAL RESOURCES  4:01:37 PM CO-CHAIR BISHOP announced the consideration of SENATE BILL NO. 69 "An Act relating to geothermal resources; relating to the definition of 'geothermal resources'; and providing for an effective date." 4:01:39 PM CO-CHAIR BISHOP solicited a motion. 4:01:42 PM CO-CHAIR GIESSEL moved to adopt the committee substitute (CS) for SB 69, work order 33-GS1618\R, as the working document. 4:01:53 PM CO-CHAIR BISHOP objected for purposes of discussion. 4:02:01 PM ANNE RITTGERS, Staff, Senator Bishop, Alaska State Legislature, Juneau, Alaska, presented the explanation of changes from Version A to R of SB 69: [Original punctuation provided.] Explanation of Changes  SENATE RESOURCES CS for Senate Bill 69 Version 33-GS1618/A to 33-GS1618/R • The Committee Substitute adopts the following changes: • Updated Title • Kept the following provisions from Version A: • Conversion of existing geothermal prospecting permits to licenses and renaming permits to licenses (Sections 1-4 and 7) • Increasing the maximum acreage of licenses and moves fees to be established in regulation (Section 4) • Repealing a provision that would allow renegotiation of rentals and royalties due on a geothermal lease after 20 years (Section 5) • Added Section 6, AS 38.05.965(6) updated definition of geothermal resources: • Lowered temperature from 120 degrees Celsius to 80 degrees Celsius • Throughout the bill, technical/conforming changes were made to align with the Manual of Legislative Drafting • Updated effective date to July 1, 2024 in Ver. R Section 10 4:03:30 PM [CO-CHAIR GIESSEL removed her objection.] 4:03:31 PM [CO-CHAIR BISHOP found no further objection and CSSB 69 was before the committee.] 4:03:32 PM CO-CHAIR BISHOP solicited the will of the committee. 4:03:33 PM CO-CHAIR GIESSEL moved to report the committee substitute (CS) for SB 69, work order 33-GS1618\R, from committee with individual recommendations and attached fiscal note(s). 4:03:48 PM CO-CHAIR BISHOP found no objection and CSSB 69(RES) was reported from the Senate Resources Standing Committee.