HB 412-PERM FUND CORP & AIDEA BD CONFIRMATION  2:17:54 PM CHAIR KREISS-TOMKINS announced that the final order of business would be HOUSE BILL NO. 412, "An Act relating to the confirmation of appointees to the Board of Trustees of the Alaska Permanent Fund Corporation; relating to the appointment of public members of the Alaska Industrial Development and Export Authority; and providing for an effective date." 2:18:31 PM XANNIE BORSETH, Staff, Representative Jonathan Kreiss-Tomkins, Alaska State Legislature, on behalf of Representative Kreiss- Tomkins, prime sponsor, provided a sectional analysis of HB 412 [included in the committee packet], which read as follows [original punctuation provided]: Section 1 adds language to statute requiring the public members of the Board of Trustees of the Alaska Permanent Fund Corporation (APFC) to be separately subject to confirmation by a majority of the members of the legislature in a joint session. Section 2 states that public members of the Board of Trustees of APFC who are reappointed are subject to confirmation by a majority of the members of the legislature in a joint session.   Section 3 deals with vacancies of the Board of Trustees of APFC and asserts that (1) a vacancy on the board which has been filled by appointment by the governor will then be subject to confirmation by a majority of the members of the legislature in a joint session; and (2) if a vacancy occurs while the legislature is not in session, the governor may appoint an interim board member who shall exercise the powers of the board member until the next session of the legislature, at which time the name of the interim board member shall be presented to the legislature for appointment.   Section 4 adds language to statute asserting the membership of the authority consists of the five public members of the board of the Alaska Industrial Development and Export Authority (AIDEA) appointed by the governor and confirmed by a majority of the members of the legislature in a joint session.   Section 5 amends uncodified law by adding this section which addresses applicability of the bill: (a) this act does not apply to members of the Board of Trustees of APFC who are serving on the effective date of this Act; (b) on or after the effective date of this Act, members of the board who are reappointed shall be confirmed by a majority of the members of the legislature in joint session; (c) this Act does not apply to members of AIDEA who are serving on the effective date of this Act; and (d) in this section, "board" means, "the Board of Trustees of the Alaska Permanent Fund Corporation."   Section 6 establishes an effective date of January 1, 2023. 2:20:43 PM CHAIR KREISS-TOMKINS said he would be drafting an amendment that adjusted the effective date to make it prior to the ending of the current gubernatorial term. 2:21:10 PM REPRESENTATIVE VANCE directed attention to Section 3, which provided that the governor "may" appoint an interim board member to fill a vacancy on the Alaska Permanent Fund Corporation (APFC) Board of Trustees. She opined that additional clarification would be helpful, suggesting that the appointment should be made within 30 days [of the vacancy] to avoid ambiguity and an empty seat on the board. 2:22:26 PM REPRESENTATIVE EASTMAN asked whether the word "promptly" on page 2, line 8 of the bill applied to the legislative confirmation process in addition to the governor's appointments. He suggested "nudging" the legislature to conduct its confirmations expeditiously. CHAIR KREISS-TOMKINS questioned what "nudges" would affect change in that regard. REPRESENTATIVE EASTMAN asked whether the reappointment process was followed by both the Alaska Industrial Development and Export Authority (AIDEA) and APFC. MS. BORSETH explained that three sections in statute applied to APFC, one of which directly addressed reappointment. She indicated that if the bill were to pass, the provision regarding reappointment would apply to AIDEA in addition to APFC. REPRESENTATIVE EASTMAN asked whether the current process was broad enough to "encompass some of the same actions that we're looking at with regard to the permanent fund board, or do they just have a different way of doing things?" MS. BORSETH deferred to Ms. Nauman. 2:25:56 PM EMILY NAUMAN, Deputy Director, Legislative Legal Services, Legislative Affairs Agency, reiterated that the AIDEA statutes were silent as to reappointment; however, no statute prohibited a member of AIDEA from being reappointed. She said the process would work the same way for AIDEA as it did for APFC. 2:26:49 PM CHAIR KREISS-TOMPKINS announced HB 412 would be held over.