HB 314-ALASKA RAILROAD LAND LEASES                                                                           
                                                                                                                                
8:55:15 AM                                                                                                                    
CHAIR OLSON announced the consideration of HB 314.                                                                              
                                                                                                                                
8:55:27 AM                                                                                                                    
ANNA  LATHAM, Staff  to Representative  Kurt Olson,  Alaska State                                                               
Legislature,   said  HB   314   extended   the  Alaska   Railroad                                                               
Corporation  (ARC)  property lease  terms  from  55 years  to  95                                                               
years. She  said the  ARC would benefit  from longer  leases that                                                               
encourage  high value  building  construction  that retain  their                                                               
value  for  a longer  period  of  time.  She  said the  bill  has                                                               
received support  from municipalities, businesses  and developers                                                               
throughout the Railbelt region.                                                                                                 
                                                                                                                                
8:55:56 AM                                                                                                                    
CHAIR OLSON  asked if the  95 year  leases would be  voluntary or                                                               
mandatory.                                                                                                                      
                                                                                                                                
8:56:17 AM                                                                                                                    
MS.  LATHAM  answered  that  the  lease  terms  were  up  to  the                                                               
discretion of the ARC Board of Directors.                                                                                       
                                                                                                                                
8:56:29 AM                                                                                                                    
SENATOR  ELLIS  moved  to  report HB  314,  27-LS1281\A,  out  of                                                               
committee  with individual  recommendations  and attached  fiscal                                                               
note(s).                                                                                                                        
                                                                                                                                
8:56:39 AM                                                                                                                    
CHAIR OLSON  said there  being no objections,  HB 314  moved from                                                               
the Senate Community and Regional Affairs Standing Committee.