HOUSE BILL NO. 307                                                                                                            
                                                                                                                                
     "An  Act  relating to  the  financing  and issuance  of                                                                    
     bonds  for a  liquefied natural  gas production  system                                                                    
     and natural gas distribution  system; and providing for                                                                    
     an effective date."                                                                                                        
                                                                                                                                
3:05:49 PM                                                                                                                    
                                                                                                                                
Co-Chair Merrick  noted she did  not receive  any amendments                                                                    
for the bill. She asked to hear from the bill sponsor.                                                                          
                                                                                                                                
REPRESENTATIVE  GRIER  HOPKINS, SPONSOR,  briefly  described                                                                    
the bill.  He articulated  that the  bill was  important for                                                                    
the Fairbanks  area as it  looked to expand its  natural gas                                                                    
supply  to  businesses  and  residential  neighborhoods  and                                                                    
ensure a  stable supply. The  bill allowed the  Interior Gas                                                                    
Utility (IGU)  to utilize the Alaska  Industrial Development                                                                    
and Export  Authority (AIDEA)  bonding authority  to utilize                                                                    
the  extension if  bonding was  necessary. He  remarked that                                                                    
bonding  would be  repaid by  the  ratepayers. He  furthered                                                                    
that the  provisions had been  in effect since 2013  and the                                                                    
last extension  was in  2017. The current  bill would  be an                                                                    
additional five year extension to 2028.                                                                                         
                                                                                                                                
3:07:41 PM                                                                                                                    
                                                                                                                                
Co-Chair Merrick OPENED public testimony.                                                                                       
                                                                                                                                
JOMO   STEWART,  PRESIDENT   AND  CEO,   FAIRBANKS  ECONOMIC                                                                    
DEVELOPMENT,  FAIRBANKS   (via  teleconference),   spoke  in                                                                    
support  of  the legislation.  He  shared  that he  was  the                                                                    
general manager  of the former  Interior Gas  Utility (IGU).                                                                    
He  pointed  out  that  projects   often  took  longer  than                                                                    
initially planned. The IGU had  made significant progress in                                                                    
achieving  its  goal  of providing  a  lower  cost,  cleaner                                                                    
energy  alternative to  the Fairbanks  area.  He noted  that                                                                    
under  the current  environment  of high  energy prices  the                                                                    
work to expand service was critical.                                                                                            
                                                                                                                                
Co-Chair Merrick CLOSED public testimony.                                                                                       
                                                                                                                                
3:09:28 PM                                                                                                                    
                                                                                                                                
Co-Chair  Merrick asked  Alaska  Industrial Development  and                                                                    
Export Authority (AIDEA) to review the fiscal note.                                                                             
                                                                                                                                
ALAN   WEITZNER,  EXECUTIVE   DIRECTOR,  ALASKA   INDUSTRIAL                                                                    
DEVELOPMENT  AND EXPORT  AUTHORITY, DEPARTMENT  OF COMMERCE,                                                                    
COMMUNITY  AND  ECONOMIC DEVELOPMENT  (via  teleconference),                                                                    
reviewed the Department of  Commerce, Community and Economic                                                                    
Development zero fiscal note [FN  1 (CED)]. He reported that                                                                    
there was  no fiscal  impact with  the extension  of current                                                                    
bonding capacity for the IEP.                                                                                                   
                                                                                                                                
3:10:08 PM                                                                                                                    
                                                                                                                                
Co-Chair  Foster MOVED  to REPORT  HB 307  out of  committee                                                                    
with individual recommendations  and the accompanying fiscal                                                                    
note.                                                                                                                           
                                                                                                                                
HB 307  was REPORTED out  of committee with seven  "do pass"                                                                    
recommendations and  one "no  recommendation" recommendation                                                                    
and  with one  previously  published zero  fiscal note:  FN1                                                                    
(CED).                                                                                                                          
                                                                                                                                
3:10:48 PM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
3:13:36 PM                                                                                                                    
RECONVENED