SENATE BILL NO. 277                                                                                                           
                                                                                                                              
     An   Act   relating   to  the   Alaska   Commission   on                                                                   
     Postsecondary Education;  relating to the Alaska Student                                                                   
     Loan Corporation; relating  to bonds of the corporation;                                                                   
     relating to  loan and grant programs of  the commission;                                                                   
     relating  to an  exemption  from the  State  Procurement                                                                   
     Code regarding  certain contracts  of the commission  or                                                                   
     corporation;  making conforming  changes; and  providing                                                                   
     for an effective date.                                                                                                     
                                                                                                                                
DIANE  BARRANS, EXECUTIVE  DIRECTOR, POSTSECONDARY  EDUCATION                                                                   
COMMISSION, DEPARTMENT  OF EDUCATION,  explained that  SB 277                                                                   
is  substantively the  same as  HB 404,  which the  committee                                                                   
heard and reported  out several weeks ago.  Legal recommended                                                                   
several technical changes.                                                                                                      
                                                                                                                                
In response to  a question by Co-Chair Williams,  Ms. Barrans                                                                   
explained that the  bill would allow the Alaska  Student Loan                                                                   
Corporation to issue bonds that  could be used to pay capital                                                                   
expenses of  the state. There is  a cap placed on  the amount                                                                   
of  bonds   that  the   Corporation  could   issue.   SB  277                                                                   
additionally authorizes the creation  of the Alaska Advantage                                                                   
Grant  Program to  be funded by  the Corporation.   The  bill                                                                   
adds   clarifying   language   to   statute   regarding   the                                                                   
administrative  lien   process  over  which   the  Commission                                                                   
currently has  authority, and it  makes changes to  the state                                                                   
procurement laws to exempt the  services that are obtained to                                                                   
guarantee and disburse loans electronically.                                                                                    
                                                                                                                                
Co-Chair Williams noted that SB  277 passed the House, and HB                                                                   
404 is now in House Rules.                                                                                                      
                                                                                                                                
Representative  Foster MOVED to  report CSSB 277(FIN)  out of                                                                   
Committee  with  attached  fiscal  notes.    There  being  NO                                                                   
OBJECTION, it was so ordered.                                                                                                   
                                                                                                                                
CSSB 277(FIN) was REPORTED out  of Committee with a "do pass"                                                                   
recommendation  and with  three  previously published  fiscal                                                                   
impact notes.