HB 292-PRINCIP.& INC/PROBATE/UTMA/RETIREMT/ETC.    3:21:55 PM CHAIR OLSON announced that the first order of business would be HOUSE BILL NO. 292, "An Act relating to property exemptions for retirement plans; relating to pleadings, orders, liability, and notices under the Uniform Probate Code; relating to the Alaska Principal and Income Act; relating to the Alaska Uniform Transfers to Minors Act; relating to the disposition of human remains; relating to insurable interests for life insurance policies; relating to transfers of individual retirement plans; relating to the community property of married persons; and amending Rule 301(a), Alaska Rules of Evidence." 3:22:08 PM CHAIR OLSON lifted his objection. He stated that the issue he had has been addressed. 3:22:47 PM JANE PIERSON, Staff, Representative Steve Thompson, Alaska State Legislature, related that questions previously arose in a Legislative Legal memo on the single-subject rule and whether this would violate the contracts clause of the U.S. Constitution. She provided copies of the memos. She said the court found a need to balance the rule's purpose with the need of efficiency in the legislative process. She pointed out only one case arose, which was Croft v. Parnell) 236 P.3d 369 (Alaska 2010), but since it was a soft dedication of funds it did not fall under the single-subject rule. The legislature has previously passed bills having to do with water or lands. She related one bill addressed driving while intoxicated and liquor laws since they both pertained to liquor. She offered her belief that this bill relates to Title 13 and seems fine. Second, she did not view any impairment of contractual obligations with respect to the contract clause of the U.S. Constitution. It is permissible to expand rights and this bill does not constitute an impairment of contracts. The only people's rights constrained by these provisions are creditors, who have no contractual right to enforce a claim against an individual retirement account (IRA) or retirement interest. Third, she noted many modifications are to administrative provisions and it is well established that changes that are administrative in nature do not impact the contract clause. She concluded that none of the provisions in this bill that apply to the existing retirement accounts, trusts, IRA, or uniform transfer to minors account violate the contract clause of the U.S. Constitution. 3:26:30 PM LINDA HALL, Director, Division of Insurance, Anchorage Office, Department of Community & Economic Development (DCCED), stated she has a small section of the bill that falls under the Division of Insurance's title. She highlighted that one provision pertains to trusts and a trustee's ability to purchase insurance for the trust and to be paid for that insurance. This bill allows an insurance contract to be part of a trust. In response to a question from Chair Olson, Ms. Hall agreed she had no problems with the bill. 3:28:03 PM REPRESENTATIVE JOHNSON moved to report the proposed committee substitute (CS) for HB 292, labeled 27-LS1232\B, Bannister, 2/22/12, out of committee with individual recommendations and the accompanying fiscal note. There being no objection, the CSHB 292(L&C) was reported from the House Labor and Commerce Standing Committee.   3:28:47 PM The committee took an at-ease from 3:28 p.m. to 3:31 p.m.