SENATE CS FOR CS FOR HOUSE BILL NO. 152(FIN) "An Act establishing a renewable energy grant fund and describing its uses and purposes; establishing a renewable energy grant recommendation program; for the fiscal year ending June 30, 2009, authorizing the Alaska Energy Authority to distribute renewable energy grants and setting out the procedures to be followed to award those grants; establishing a state heating assistance program in addition to the federal heating assistance program; establishing an Alaska Renewable Energy Task Force; and providing for an effective date." Co-Chair Stedman MOVED to ADOPT Amendment #8: Page 2, line 31: Delete "and will achieve a statewide balance of grant funds" Page 3, line 3: Delete "significant weight being given" Insert "the most weight being given to projects that service areas in which energy costs exceed energy costs in other areas of the state, and significant weight being given to a statewide balance of grant funds and" Co-Chair Stedman OBJECTED for discussion. 5:52:40 PM Co-Chair Stedman remarked that in rating and ranking different applicants attention is paid to the higher cost areas. Co-Chair Stedman WITHDREW his OBJECTION. There being NO further OBJECTION, Amendment # 8 was adopted. 5:53:58 PM Co-Chair Stedman MOVED to ADOPT Amendment #9: Page 1, line 1, following "establishing": Insert "establishing a renewable energy fund and describing their uses and purposes;" Page 2, line 27: Following "energy": Insert "fund and" Following "program.": Insert new subsections to read: "(a) A renewable energy fund is established as a separate fund to finance certain energy projects in Alaska. (b) The authority shall administer the fund as a fund distinct from other funds of the authority. The fund consists of (1) money appropriated to the fund by the legislature to provide grants for certain energy projects determined by the legislature; (2) gifts, bequests, contributions from other sources, and federal money; (3) interest earned on the fund balance; and (4) investments to be managed by the Department of Revenue, which shall be the fiduciary of the fund under AS 37.10.071. (c) The fund is not a dedicated fund." Reletter the following subsections accordingly. Page 2, line 28: Delete "(f)" Insert "(i)" Page 3, line 11: Delete "(f)" Insert "(i)" Page 3, line 16: Delete "(c), (d), and (e)" Insert "(f), (g), and (h)" Page 3, line 20: Delete "(b)" Insert "(e)" Page 3, line 30: Delete "(b)" Insert "(e)" Page 4, line 4: Delete "(b)" Insert "(e)" Page 4, line 25: Delete "(f)" Insert "(i)" Page 4, following line 27: Insert a new subsection to read: "(k) The legislature may appropriate money for grants from the renewable energy project fund for renewable energy projects described in this section." Reletter the following subsection accordingly. Page 5, following line 1: Insert a new paragraph to read: "(2) "fund" means the renewable energy fund;" Renumber the following paragraphs accordingly. Page 5, line 19: Delete "AS 42.45.045(c) - (e)" Insert "AS 42.45.045(f) - (h)" Page 5, line 21: Delete "AS 42.45.045(c) - (e)" Insert "AS 42.45.045(f) - (h)" Delete "sec. 2" Insert "sec. 3" Page 5, line 22: Delete "AS 42.45.045(a), (b), and (f) - (l)" Insert "AS 42.45.045(d), (e), and (i) - (l)" Page 5, line 23: Delete "sec. 2" Insert "sec. 3" Page 6, line 8: Delete "AS 42.45.045(f)(1)" Insert "AS 42.45.045(i)(1)" Co-Chair Stedman OBJECTED for discussion. Co-Chair Stedman noted that Amendment #9 establishes a renewable energy fund and describes the uses and purposes After meeting with Legislative Finance is was decided that a holding mechanism was needed for the funds after appropriations. Amendment #9 describes how this is to be set up. Co-Chair Stedman WITHDREW his OBJECTION. There being NO further OBJECTION, Amendment #9 was adopted. 5:55:00 PM Senator Olson MOVED to REPORT SCS CSHB 152 (FIN) out of Committee with individual recommendations and accompanying fiscal notes. Co-Chair Stedman OBJECTED for discussion. Senator Olson WITHDREW his MOTION to REPORT SCS CSHB 152 (FIN) out of Committee. Co-Chair Stedman reviewed the accompanying fiscal notes. 5:56:02 PM Co-Chair Stedman MOVED to ADOPT the four fiscal notes. There being NO OBJECTION, it was so ordered. Co-Chair Stedman WITHDREW his OBJECTION. Senator Olson MOVED to REPORT SCS CSHB 152 (FIN) out of Committee with individual recommendations and accompanying fiscal notes. There being NO OBJECTION, it was so ordered. SCS CSHB 152 (FIN) was REPORTED out of Committee with a "do pass" recommendation and accompanying new fiscal notes from the Department of Commerce, Community and Economic Development, Department of Health and Social Services, and the Senate Finance Committee. AT EASE: 5:57:45 PM RECONVENED: 6:01:02 PM 6:01:07 PM