SB 301-POWER PROJECT FUND                                                                                
                                                                                                                                
9:24:24 AM                                                                                                                    
                                                                                                                                
CHAIR DAHLSTROM announced that the  final order of business would                                                               
be SENATE  BILL NO. 301,  "An Act  relating to the  power project                                                               
fund;  authorizing  the Alaska  Energy  Authority  to charge  and                                                               
collect fees relating to the  power project fund; authorizing the                                                               
Alaska  Energy  Authority  to sell  and  authorizing  the  Alaska                                                               
Industrial Development and Export  Authority to purchase loans of                                                               
the power  project fund; providing  legislative approval  for the                                                               
sale and  purchase of loans of  the power project fund  under the                                                               
memorandum  of   understanding  dated  February  17,   2010;  and                                                               
providing for an effective date."                                                                                               
                                                                                                                                
[Before the committee is HCS SB 301(FIN).]                                                                                      
                                                                                                                                
CHAIR DAHLSTROM related her understanding  that the Alaska Energy                                                               
Authority (AEA) views Amendment 1  as acceptable.  She noted that                                                               
Sara Fisher-Goade, AEA, nodded to confirm that is the case.                                                                     
                                                                                                                                
9:25:17 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  OLSON moved  to  adopt Amendment  1, labeled  26-                                                               
GS2974\R, Kane, 4/13/10, which read:                                                                                            
                                                                                                                                
     Page 2, line 1, following "loans":                                                                                     
          Insert "appropriated by the legislature"                                                                          
                                                                                                                                
There being no objection, Amendment 1 was adopted.                                                                              
                                                                                                                                
9:25:32 AM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  OLSON  moved  to   report  HCS  SB  301(FIN),  as                                                               
amended,  out of  committee with  individual recommendations  and                                                               
the accompanying fiscal notes.   There being no objection, HCS SB                                                               
301(RLS) was reported from the House Rules Standing Committee.