AT EASE 2:47:53 PM/5:45:21 PM SENATE BILL NO. 53 "An Act making appropriations, including capital appropriations, supplemental appropriations, and appropriations to capitalize funds; and providing for an effective date." This was the fifth hearing for this bill in the Senate Finance Committee. Co-Chair Hoffman offered a motion to adopt CS SB 53, 25- GS1014\L, as a working document. Without objection the committee substitute, Version "L", was ADOPTED. 5:46:09 PM FRED FISHER, Staff to Co-Chair Stedman, introduced the Senate Finance Committee substitute, reminding that the bill was transmitted from Governor Palin as a "bare bones" request. 5:47:01 PM Mr. Fisher informed that Sections 1 through 6 contained capital appropriations and grants totaling $237.4 million in general funds to accommodate the Governor's requests, and $198.2 million general funds for legislative priority projects. The total proposed capital budget was $435.6 million general funds and $1,495,600,000 in total capital expenditures. This committee substitute also contained the remaining supplemental appropriations for fiscal year 2007 (FY07), in addition to FY08 operating appropriations. Sections 7 through 9 represented operating recommendations to fund the monetary terms of collective bargaining agreements reached with the Labor, Trades and Crafts Unit and the Teachers' Education Association of Mt. Edgecumbe, for a total of $3.8 million in general funds and $6.7 million total. Mr. Fisher continued that Sections 10 through 24 of the bill contained the proposed funding levels for the remaining FY07 supplemental requests, totaling $55.9 million in general funds and $95.4 in total funds. 5:48:31 PM Mr. Fisher remarked that Sections 25 through 31 were Language sections associated with capital projects. Sections 32 through 47 and Section 49 were reappropriation recommendations. Section 48 contained appropriations from the Railbelt Energy Fund, totaling approximately $75 million. Sections 50 and 51 would appropriate any remaining surplus dollars to the Constitutional Budget Reserve fund and the Alaska Housing Finance Corporation (AHFC) sub-corporation.