CS FOR HOUSE BILL NO. 119(FIN)                                                                                             
     "An Act extending the termination date of the Alaska regional                                                              
     economic assistance program; and providing for an effective                                                                
     date."                                                                                                                     
                                                                                                                                
                                                                                                                                
This was  the second  hearing for  this bill in  the Senate  Finance                                                            
Committee.                                                                                                                      
                                                                                                                                
Co-Chair  Green stated that  this hearing  was scheduled to  address                                                            
any continuing Committee concerns.                                                                                              
                                                                                                                                
Co-Chair  Wilken  asked  regarding  the  Alaska  regional   economic                                                            
assistance   program's  proposed   termination  date;  specifically                                                             
whether  the  program could  be  subject  to  a three  or  four-year                                                            
termination  date   rather  than  the  five-year  termination   date                                                            
specified in the bill.                                                                                                          
                                                                                                                                
KACI SCHRODER, Staff to  Representative Bill Thomas, Co-Chair, House                                                            
Community  &  Regional  Affairs Committee,  voiced  that  a  shorter                                                            
termination date would be acceptable.                                                                                           
                                                                                                                                
Co-Chair Wilken asked for  confirmation that a shorter timeframe had                                                            
been discussed  and  would be acceptable  to the  House Community  &                                                            
Regional Affairs Committee.                                                                                                     
                                                                                                                                
Ms. Schroder  assured that  a three-year  termination date  would be                                                            
acceptable.                                                                                                                     
                                                                                                                                
Conceptual  Amendment #1:  This amendment  replaces the year  "2010"                                                            
with "2008"  in Section 1,  subsection Sec.  2 page one line  six as                                                            
follows.                                                                                                                        
                                                                                                                                
     Sec. 2 AS 44.33.895 is repealed July 1, 2008.                                                                              
                                                                                                                                
Co-Chair  Wilken moved  to adopt Amendment  #1.  The effect of  this                                                            
amendment would  be to specify a three-year rather  than a five-year                                                            
termination date.                                                                                                               
                                                                                                                                
There being no objection, Conceptual Amendment #1 was ADOPTED.                                                                  
                                                                                                                                
Co-Chair  Wilken  moved  to  report   the  bill,  as  amended,  from                                                            
Committee with  individual recommendations  and accompanying  fiscal                                                            
notes.                                                                                                                          
                                                                                                                                
There  being no  objection, SCS  CS HB  119(FIN)  was REPORTED  from                                                            
Committee  with a new $650,000  fiscal note  dated May 4, 2005  from                                                            
the Alaska Industrial Development  & Export Authority, Department of                                                            
Commerce,  Community  and  Economic  Development  and  new  $650,000                                                            
fiscal  note  dated May  4,  2005  from the  Division  of  Community                                                            
Advocacy,   Department   of   Commerce,   Community   and   Economic                                                            
Development.                                                                                                                    
                                                                                                                                
3:33:20 PM                                                                                                                    
                                                                                                                                
RECESSED TO THE CALL OF THE CHAIR 3:33:55 PM: / 5:20:00 PM