CS FOR SENATE BILL NO. 155(FIN) "An Act making appropriations from the earnings reserve account for construction of an integrated science complex at the University of Alaska in Anchorage, for replacement of the virology laboratory in Fairbanks, for expansion of the Anchorage Museum of History and Art, for the major maintenance grant fund, and for other capital projects related to education; and providing for an effective date." Co-Chair Meyer presented the Committee with work draft for SB 155, labeled 24-LS0687\U, Kurtz, 5/4/05. He noted the biggest change was a fund source change from permanent fund earnings were changed to general funds. SUZANNE CUNNINGHAM, STAFF, CO-CHAIR MEYER, reviewed the changes in the proposed work draft. She clarified that all of the funding sources were changed from permanent fund earnings to general funds. 6:18:02 PM She observed that projects in section 3 were reduced to reflect a 70/30 percent split, or 2 percent for REAA's. This change reduced the overall cost of the projects previously contained in the legislation by $19,447,972 using the capital matching grant formula. She noted that $57 million in new projects were added to section 3. An additional $10 million was added in section 5 to the University of Alaska Fairbanks' fisheries and ocean facility at Lena Point. Section 6 was amended from $5 to $15 million for the Anchorage Museum of History and Art expansion. 6:19:16 PM Vice-Chair Stoltze asked if it would require a title change. Ms. Cunningham agreed that a title change was in order. 6:19:29 PM Representative Hawker MOVED to ADOPT the work draft for SB 155, labeled 24-LS0687\U, Kurtz, 5/4/05. Representative Holm OBJECTED. He felt it would be appropriate to further review the legislation. Representative Hawker acknowledged the desire to have more time, but pointed out the late date [in the legislative session]. 6:21:15 PM At ease 6:25:50 PM Ms. Cunningham observed that the two largest elements in SB 155 were in section 2, which is the major maintenance list, and section 3, which contains new construction. The Department of Education and Early Development establish the major maintenance list. The intent was to equal out projects awarded to each district. 6:27:31 PM Representative Holm WITHDREW his objection. Representative Hawker noted there was an earnings reserve funding which he preferred. 6:28:18 PM Representative Hawker MOVED to report HCSSB 155 (FIN) out of Committee with individual recommendations. There being NO OBJECTION, it was so ordered. HCSSB 155 (FIN) was REPORTED out of Committee with a "do pass" recommendation. Co-Chair Meyer announced that the Committee would Recess until 8:30 AM, May 5, 2005. Representative Hawker asked the committee to move HB 280. Representative Holm objected to that motion, saying he has an amendment. Co-Chair Meyer said there would be time in the morning. The meeting was recessed at 6:31 PM until 8:30 AM on May 5, 2005. 8:48:57 AM Co-Chair Chenault resumed the meeting.