SB 156-AK COMMERCIAL FISHING & AG BANK; LOANS  1:37:32 PM CHAIR BJORKMAN announced the consideration of SENATE BILL NO. 156 "An Act relating to the Department of Commerce, Community, and Economic Development; relating to the Alaska Commercial Fishing and Agriculture Bank; relating to certain loans made by the Alaska Commercial Fishing and Agriculture Bank; and providing for an effective date." 1:38:05 PM SENATOR JESSE KIEHL, District B, Alaska State Legislature, Juneau, Alaska, presented SB 156 on behalf of Senate Rules, Senator Wielechowski, Chair. He stated that the legislation will help the Commercial Fishing Agriculture Bank (CFAB) remain operational during a temporary period when the Commercial Fisheries Revolving Loan Fund is directly supporting small family fishing businesses. Under SB 156, CFAB can match those loan rates, ensuring it stays viable and continues providing financing for fishing families as they navigate unusual market conditions and fish runs. 1:39:40 PM CHAIR BJORKMAN opened public testimony on SB 156; finding none, he closed public testimony. 1:40:06 PM CHAIR BJORKMAN solicited a motion. 1:40:09 PM SENATOR GRAY-JACKSON moved to adopt the committee substitute (CS) for SB 156 work order 34-LS0857\N, as the working document. 1:40:22 PM CHAIR BJORKMAN objected for purposes of discussion. 1:40:28 PM ELLA ADKISON, Staff, Senator Jesse Kiehl, Alaska State Legislature, Juneau, Alaska, presented the summary of changes from version A to N for SB 156. She paraphrased and read the following: [Original punctuation provided.] • States explicitly that loans will have a fixed interest rate. • Makes changes agreed upon between CFAB and the Division of Banking and Securities to what information is needed to determine the amount of unused state funds. • Clarifies that the Division of Banking and Securities is conducting a one-time review, not an audit. • States clearly that CFAB will repay the state through a buyback of CFAB shares. 1:41:18 PM CHAIR BJORKMAN removed his objection 1:41:22 PM CHAIR BJORKMAN found no further objection and CSSB 156 was adopted as the working document. 1:41:38 PM CHAIR BJORKMAN solicited the will of the committee. 1:41:40 PM SENATOR GRAY-JACKSON moved to report CSSB 156, work order 34- LS0857\N, from committee with individual recommendations and attached fiscal note(s). 1:42:00 PM CHAIR BJORKMAN found no further objection and CSSB 156(L&C) was reported from the Senate Labor and Commerce Standing Committee.