HB 412-PERM FUND CORP & AIDEA BD CONFIRMATION  4:12:58 PM CHAIR KREISS-TOMKINS announced that the first 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." 4:13:38 PM CHAIR KREISS-TOMKINS moved to adopt Amendment 1, [labeled 32- LS1637\B.1, Nauman, 4/12/22], which read: Page 3, line 4: Delete "January 1, 2023" Insert "September 1, 2022" REPRESENTATIVE TARR objected for the purpose of discussion. 4:14:00 PM XANNIE BORSETH, Staff, Representative Jonathan Kreiss-Tomkins, Alaska State Legislature, on behalf of Representative Kreiss- Tomkins, prime sponsor of HB 412, introduced Amendment 1. She explained that the proposed amendment would change the effective date from January 1, 2023 to September 1, 2022 to avoid a scenario in which a new or reelected governor appointed a new board member to the Alaska Permanent Fund Corporation (APFC) or the Alaska Industrial Development and Export Authority (AIDEA) before the effective date without the requirement of confirmation by a majority of the legislature during a joint session. She noted that the scenario was unlikely; nonetheless, the bill sponsor wanted to be cautious. REPRESENTATIVE TARR removed her objection. There being no further objection, Amendment 1 was adopted. 4:14:58 PM CHAIR KREISS-TOMKINS moved to adopt Amendment 2, [labeled 32- LS1637\B.2, Nauman, 4/12/22], which read: Page 3, line 1: Delete "Alaska Industrial Development and Export Authority" Insert "authority" Page 3, following line 2: Insert a new subsection to read: "(d) On or after the effective date of this Act, members of the authority who are reappointed under AS 44.88.030(a), as amended by sec. 4 of this Act, shall be confirmed by a majority of the members of the legislature in joint session." Reletter the following subsection accordingly. Page 3, line 3, following "section,": Insert "(1) "authority" has the meaning given in AS 44.88.900; (2)" REPRESENTATIVE CLAMAN objected for the purpose of discussion. REPRESENTATIVE EASTMAN objected. 4:15:04 PM MS. BORSETH explained that Amendment 2 addressed concerns raised at the last bill hearing by clarifying that reappointed APFC and AIDEA board members shall be confirmed by a majority of the legislature during a joint session to reduce ambiguity. 4:16:15 PM REPRESENTATIVE EASTMAN inquired about the definition of "authority", as provided under AS 44.88.900. MS. BORSETH defined authority, per AS 44.88.900, as the Alaska Industrial Development and Export Authority, which was created by chapter 44.88. REPRESENTATIVE CLAMAN withdrew his objection. REPRESENTATIVE EASTMAN withdrew his objection. There being no further objection, Amendment 2 was adopted. CHAIR KREISS-TOMKINS invited final comments on the bill. 4:17:44 PM REPRESENTATIVE TARR directed attention to page 2 and expressed an interest in amending the bill to limit the length of time that someone could serve in a limited interim capacity. REPRESENTATIVE CLAMAN said he was pleased to move the bill forward. Nonetheless, he expressed an interest in holding a future discussion on carryover and longevity to ensure the board's independence from the executive and legislative branches. REPRESENTATIVE EASTMAN said he was pleased to agree with both statements. He highlighted an opportunity to move the confirmation date forward in the legislative process to reduce the time served by unconfirmed appointments. CHAIR KREISS-TOMKINS agreed with both statements from Representative Claman and Representative Story on vacancies and staggard terms. In response to Representative Eastman, he was unsure of the appropriate mechanism to address the timing of joint session. 4:24:18 PM REPRESENTATIVE CLAMAN moved to report HB 412, as amended, out of committee with individual recommendations and the accompanying fiscal notes. There being no objection, CSHB 412(STA) was reported from the House State Affairs Standing Committee. He stated that the committee gave Legislative Legal Services the authority to make technical and confirming changes.