SENATE BILL NO. 125                                                                                                           
                                                                                                                                
     "An  Act  changing  the name  of  the  Alaska  Aerospace                                                                   
     Development    Corporation     to    Alaska    Aerospace                                                                   
     Corporation."                                                                                                              
                                                                                                                                
9:14:47 AM                                                                                                                    
                                                                                                                                
SENATOR JOE PASKVAN, SPONSOR,  introduced his staff and asked                                                                   
him to speak for the legislation.                                                                                               
                                                                                                                                
JEFF STEPP,  STAFF, SENATOR JOE  PASKVAN, SPONSOR,  read from                                                                   
Sponsor Statement (Copy on File):                                                                                               
                                                                                                                                
     Senate Bill 125  simply seeks to change the  name of the                                                                   
     Alaska Aerospace  Development Corporation to  the Alaska                                                                   
     Aerospace Corporation.                                                                                                     
                                                                                                                                
     This  name   change  will  assist  the   corporation  in                                                                   
     securing  launch and other  aerospace related  contracts                                                                   
     that  generate significant  economic benefits  to Alaska                                                                   
     by  providing long-term,  high paying,  stable jobs;  by                                                                   
     providing  local  economic  diversity; and  by  creating                                                                   
     short-term  benefits  from   projects  and  construction                                                                   
     activities.                                                                                                                
                                                                                                                                
     The  name "Development"  gives the  perception that  the                                                                   
     organization  is a non-profit  administrative  body that                                                                   
     simply  encourages  aerospace   development  in  Alaska,                                                                   
     rather  than  an  organization that  owns  and  operates                                                                   
     space  launch facilities  that are  fully developed  and                                                                   
     capable of launching rockets.                                                                                              
                                                                                                                                
     The launch  site in  Kodiak is operational,  functioning                                                                   
     and  self-supporting,  in that  no  Alaska General  Fund                                                                   
     appropriations    are   needed   for    operations   and                                                                   
     maintenance of the site.                                                                                                   
                                                                                                                                
Mr. Stepp  added that  the fiscal  note for  $4,500 would  be                                                                   
paid for with  federal receipts and used for  new letterhead,                                                                   
stationary, logo, and website changes.                                                                                          
                                                                                                                                
Mr.  Stepp concluded  that  the name  change  would help  the                                                                   
                           st                                                                                                   
corporation meet its new 21  century  goals. The new title is                                                                   
unambiguous  about the  corporation's  capabilities and  will                                                                   
improve its ability to offer launch  services to the national                                                                   
and international  aerospace market, which benefits  both the                                                                   
nation and Alaska.                                                                                                              
                                                                                                                                
Co-Chair Stedman commented on the size of the fiscal note.                                                                      
                                                                                                                                
9:17:59 AM                                                                                                                    
                                                                                                                                
Co-Chair Stedman opened public testimony.                                                                                       
                                                                                                                                
DALE  NASH,   CHIEF  EXECUTIVE   OFFICER,  ALASKA   AEROSPACE                                                                   
DEVELOPMENT  CORPORATION   (testified  via   teleconference),                                                                   
reported   a   recent   phone  call   inquiring   about   the                                                                   
corporation's  status as a  non-profit. He believed  changing                                                                   
the  name  would  help  the corporation  to  be  viewed  more                                                                   
accurately.                                                                                                                     
                                                                                                                                
Senator Thomas MOVED  to REPORT SB 125 out  of committee with                                                                   
individual recommendations and  the accompanying fiscal note.                                                                   
There being NO OBJECTION, it was so ordered.                                                                                    
                                                                                                                                
SB  125  was REPORTED  out  of  committee  with a  "do  pass"                                                                   
recommendation  and with  accompanying fiscal  note 1  by the                                                                   
Department of Commerce, Community and Economic Development.                                                                     
                                                                                                                                
9:19:51 AM     AT EASE                                                                                                        
9:21:07 AM     RECONVENED