HJR 48 - RESTRUCTURE PERMANENT FUND REPRESENTATIVE GAIL PHILLIPS: "Mr. Chairman, that was an interesting subcommittee, because we had to deal with an awful lot of material and come up with a workable decision for the House Judiciary Committee to take a responsible position. After meeting quite a few times and coming up with what we think is a workable solution, we did put together a packet that includes the bill as originally presented to us. It includes a letter of intent that is fairly comprehensive as to what we think needs to be done. It includes a resolution that we would like to see addressed, a like resolution to be addressed by the Finance Committee with a general fiscal note on it. Basically, what we said is this legislative body does not have time or the wherewithal to deal with this subject during the legislative year, that we would recommend the bill go on to Finance, and that Finance look into creating a blue ribbon task force comprised of major Alaskans that are knowledgeable about the state government and state budgeting process, out of the private sector; and then highly technical members of both the legislative and administrative staffs that comprise this blue ribbon task force, that will look at not only the CREMO plan, but maybe other plans that have been turned in, and come up during their investigation. And they be required to spend a lot of time looking at all the ramifications of the CREMO plan. We did list quite a few policy issues that we felt should be addressed before we have a document that is ready to take to the public, and we would like to pass the letter of intent with our recommendations with the bill onto the Finance Committee." Number 091 REPRESENTATIVE NORDLUND: "As a member of the subcommittee, I support that, and would certainly hope that the Finance Committee can do what we suggest, and if they have time in the evenings, or whatever, to take a look at the CREMO proposal itself, and try to begin to answer some of these questions, or at least begin the research or get the wheels in motion to answer some of these questions. I certainly support passing out the bill today. I would like the opportunity to add a couple of things to the letter of intent. I am sorry I did not get that done. I apologize. I was given plenty of opportunity and I was late, but I would really appreciate it if we could take action to pass the bill out today. One of the questions I think should be asked is - it's not clear in the legislation - `What are the sources of revenue that would be required to go into the principal of the permanent fund under the CREMO plan?' There is some question that income taxes that would be derived from people who earn income off of resource related jobs would go into it, that some similar sales taxes could possibly be construed as needing to go into the fund, and it would be my hope that that wouldn't happen, and I think that's an issue that should be addressed. I had a couple of notes on other things that I would want to add there. Again, they are just questions. They are not controversial, so I would like to bring those up with the Chair of the subcommittee and add them to the letter. REPRESENTATIVE PHILLIPS said she had no problem with that at all. CHAIRMAN PORTER said what he would do then would be to initially entertain a motion to adopt the draft letter of intent as a working document for the letter of intent. Number 132 REPRESENTATIVE GREEN moved to adopt the draft letter of intent. Number 143 CHAIRMAN PORTER asked if there was any objection. He said, "If not, we have a letter of intent before us. I think for just purposes of consensus, if there is no objection, I will finalize the letter of intent with the items that Representative Nordlund would like to add and attached that to the bill and pass it along. So with that in mind, I would entertain a motion to move the bill with the adopted letter of intent." REPRESENTATIVE GREEN agreed to move the letter of intent and HJR 48 to the Finance Committee. Number 180 CHAIRMAN PORTER: "The only discussion necessary would be the Chairman's thanks and sincere appreciation to the subcommittee for working diligently on what had to be quite a task, and I thoroughly agree and support your decision. This is something of the magnitude we should not try to resolve at one of our round tables in the Judiciary Committee, although we are good at that. This might be a little bit more expansive than that process would allow for accomplishment. With that in mind, is there objection? If not, HJR 48, with the letter of intent is moved on to the Finance Committee. Now, we have HB 337, Drug free recreation and youth center."