HB 44:  APPROP: TO PERMANENT FUND PRINCIPAL                                  
                                                                               
  CHAIRMAN VEZEY read the title of HB 44 and asked for                         
  comments or questions from the committee.                                    
                                                                               
  Number 560                                                                   
                                                                               
  REPRESENTATIVE ULMER directed a question to Representative                   
  Martin, the sponsor of HB 44.  She asked if he had discussed                 
  HB 44 with the Governor's Office in reference to the funds                   
  for school construction.                                                     
                                                                               
  REPRESENTATIVE MARTIN stated he had.  He had concerns about                  
  anyone raiding the fund, and added that it should be saved                   
  for future generations.                                                      
                                                                               
  Number 605                                                                   
                                                                               
  REPRESENTATIVE ULMER would like money to be set aside for                    
  the Permanent Fund but asked Representative Martin if he                     
  would consider a lesser amount.                                              
                                                                               
  REPRESENTATIVE MARTIN said an amendment to six hundred                       
  million dollars by Representative Ulmer would be acceptable.                 
  He restated his concern that there would be a lot of money                   
  on the table for people to grab.                                             
                                                                               
  Number 624                                                                   
                                                                               
  REPRESENTATIVE OLBERG commented regarding the earnings                       
  within the reserve fund growing.                                             
                                                                               
  CHAIRMAN VEZEY stated the committee was now on line with the                 
  teleconference.                                                              
                                                                               
  REPRESENTATIVE OLBERG continued his statement in support of                  
  HB 44 and the desire to save money.                                          
                                                                               
  Number 642                                                                   
                                                                               
  REPRESENTATIVE G. DAVIS voiced concerns regarding the amount                 
  of funds that would be saved.                                                
                                                                               
  Number 660                                                                   
                                                                               
  REPRESENTATIVE OLBERG suggested the amount be amended.                       
                                                                               
  Number 670                                                                   
                                                                               
  REPRESENTATIVE MARTIN stated the amount was now seven                        
  hundred and fifty million dollars which could be amended to                  
  less.                                                                        
                                                                               
  Number 675                                                                   
                                                                               
  CHAIRMAN VEZEY asked Representative Olberg to make the                       
  amendment for the committee and report back with the                         
  changes.  He stated the committee would hold HB 44 until                     
  this could be done.  Due to problems with the teleconference                 
  there was a short recess.                                                    
                                                                               
  TAPE 93-9 SIDE 2                                                             
  Number 000                                                                   
                                                                               
  CHAIRMAN VEZEY stated the committee was once again on                        
  teleconference with Fairbanks, Anchorage, Ketchikan and                      
  Juneau.  Other locations were still not on line.