HB 123-ARTICLES OF INCORPORATION FOR ANCSA CORPS  8:24:00 AM CHAIR MCCORMICK announced that the final order of business would be HOUSE BILL NO. 123, "An Act relating to an amendment to the articles of incorporation of a corporation organized under the Alaska Native Claims Settlement Act; and providing for an effective date." 8:24:14 AM TOM WRIGHT, Staff, Representative Craig Johnson, Alaska State Legislature, re-capped HB 123 on behalf of Representative C. Johnson, prime sponsor. He explained that HB 123 would bring the Alaska Native Claims Settlement Act (ANCSA) in line with the Alaska Corporations Code wherein those who formed a corporation after 1989 are allowed to have a 50 percent plus one threshold for amendments to the articles of corporation; the bill would eliminate the two-thirds threshold corporations are currently under. 8:25:05 AM CHAIR MCCORMICK opened public testimony on HB 123. 8:25:27 AM ROBERT MISULICH, General Counsel, Aleut Corporation, testified in support of HB 123, which addresses the important issue of the voting threshold for an Alaska Native corporation to amend its articles of incorporation through a simple majority vote of the outstanding voting shares. 8:27:11 AM SUSAN TAYLOR, CEO, St. Mary's Native Corporation, testified in support of HB 123, noting that Mr. Misulich had covered all the points she had planned to make. 8:27:58 AM NICHOLAS OSTROVSKY, General Counsel, Ahtna, Incorporated, testified in support of HB 123. He stated the bill would bring Native corporations in line with modern corporations code, and it would help Native corporations be more agile, efficient, and continue with the important mission to provide economic and social benefits for Alaska Native shareholders. 8:28:43 AM SARAH OBED, Senior Vice President, External Affairs, Doyon, Limited, testified on behalf of the ANCSA Regional Association (ARA) in support of the passage of HB 123. She stated that ARA and the member organizations are tasked with providing for their Alaska Native shareholders socially, culturally, and economically. She noted the current two-thirds majority requirement is an outdated rule, and a hurdle. She thanked the committee for its work on behalf of Alaska and the consideration of this legislation. 8:31:56 AM CHAIR MCCORMICK, after ascertaining that there was no one else who wished to testify, closed public testimony on HB 123. 8:32:26 AM CHAIR MCCORMICK entertained a motion to move HB 123 from committee. 8:32:33 AM REPRESENTATIVE MCCABE moved to report HB 123 out of committee with individual recommendations and the accompanying zero fiscal note. There being no objection, HB 123 was reported out of the House Community and Regional Affairs Standing Committee.