CS FOR SENATE BILL NO. 337(L&C)                                                                                               
                                                                                                                                
     An  Act relating  to  the powers  of  the Alaska  Energy                                                                   
     Authority  to  make  grants  and loans,  to  enter  into                                                                   
     contracts, and to improve,  equip, operate, and maintain                                                                   
     bulk  fuel, waste  energy,  energy conservation,  energy                                                                   
     efficiency,   and  alternative  energy   facilities  and                                                                   
     equipment;  relating  to the  bulk  fuel revolving  loan                                                                   
     fund;   relating  to  the   Alaska  Energy   Authority's                                                                   
     liability for  the provision of technical  assistance to                                                                   
     rural   utilities;  relating   to   the  Alaska   Energy                                                                   
     Authority's  investment of  the power development  fund;                                                                   
     repealing  the electrical  service  extension fund;  and                                                                   
     providing for an effective date.                                                                                           
                                                                                                                                
Representative  Foster MOVED  to  RESCIND previous  Committee                                                                   
action taken  on passing HCS SB  337 (FIN) out  of Committee.                                                                   
There being NO OBJECTION, action was rescinded.                                                                                 
                                                                                                                                
Co-Chair   Williams  observed   that   the  previous   passed                                                                   
amendment had not addressed all the necessary concerns.                                                                         
                                                                                                                                
PETE  ECKLUND,  HOUSE COMMITTEE  STAFF,  REPRESENTATIVE  BILL                                                                   
WILLIAMS, reiterated that Amendment  #1, previously passed by                                                                   
Committee  had been incomplete.   There  are two sections  in                                                                   
law, which  the amendment could  not officially sustain.   He                                                                   
pointed  out  that  Amendment   #2,  #23-GS2076\D.4,  Craver,                                                                   
5/4/04,  would provide  the proper extension  needed  for the                                                                   
ethanol tax credit.  (Copy on File).                                                                                            
                                                                                                                                
Co-Chair    Williams   MOVED    to   ADOPT   Amendment    #2.                                                                   
Representative Hawker  OBJECTED asking if Amendment  #2 would                                                                   
be in addition  to Amendment #1.  Mr. Ecklund  clarified that                                                                   
Amendment #2 would be included  with the Committee's previous                                                                   
taken action.  Representative  Hawker WITHDREW his OBJECTION.                                                                   
                                                                                                                                
There being NO further OBJECTION, Amendment #2 was adopted.                                                                     
                                                                                                                                
Representative  Foster MOVED to  report HCS  CS SB  337 (FIN)                                                                   
out  of Committee  with individual  recommendations and  with                                                                   
the accompanying  fiscal notes.   He asked that  the previous                                                                   
signed committee  report be the  one attached with  the bill.                                                                   
There being NO OBJECTION, it was so ordered.                                                                                    
                                                                                                                                
HCS CS SB 337 (FIN) was reported  out of Committee with a "no                                                                   
recommendation" and  with zero note  #1 by the  Department of                                                                   
Revenue and  zero note  #2 by the  Department of  Community &                                                                   
Economic Development.