SENATE BILL NO. 125                                                                                                           
                                                                                                                                
     "An Act changing the name of the Alaska Aerospace                                                                          
     Development    Corporation    to    Alaska    Aerospace                                                                    
     Corporation."                                                                                                              
                                                                                                                                
9:47:36 AM                                                                                                                    
                                                                                                                                
JEFF STEPP,  STAFF, SENATOR JOE PASKVAN,  SPONSOR, explained                                                                    
that the bill  was an act that would change  the name of the                                                                    
Alaska  Aerospace  Development  Corporation  to  the  Alaska                                                                    
Aerospace Corporation.                                                                                                          
                                                                                                                                
Representative Austerman expressed support for the bill.                                                                        
                                                                                                                                
Co-Chair Stoltze asked if the  funds reflected in the fiscal                                                                    
note were federal  funds. Mr. Stepp replied that  it was all                                                                    
federal receipts.                                                                                                               
                                                                                                                                
Representative  Crawford wondered  why the  name change  was                                                                    
necessary.  Mr.  Stepp  explained   that  the  facility  has                                                                    
evolved,  from  when   it  was  created  in   1991,  from  a                                                                    
development facility, to  fully functioning launch facility.                                                                    
The name change would reflect that evolution.                                                                                   
                                                                                                                                
Co-Chair Stoltze opened public testimony.                                                                                       
                                                                                                                                
DALE  NASH,   CHIEF  EXECUTIVE  OFFICER,   ALASKA  AEROSPACE                                                                    
DEVELOPMENT  CORPORATION, testified  via teleconference,  he                                                                    
spoke  in  support of  the  legislation.  He said  the  name                                                                    
change would add clarification as  to the nature of the work                                                                    
performed at the facility.                                                                                                      
                                                                                                                                
9:53:02 AM                                                                                                                    
                                                                                                                                
Co-Chair Stoltze closed public testimony.                                                                                       
                                                                                                                                
Co-Chair  Hawker MOVED  to report  SB 125  out of  Committee                                                                    
with individual recommendations  and the accompanying fiscal                                                                    
note. There being NO OBJECTION, it was so ordered.                                                                              
                                                                                                                                
SB  125 was  REPORTED  out  of Committee  with  a "do  pass"                                                                    
recommendation  and  with  attached  fiscal note  1  by  the                                                                    
Department of Commerce, Community and Economic Development.