SENATE BILL NO. 226                                                                                                           
                                                                                                                                
     "An Act relating to the  purchase by the Alaska Housing                                                                    
     Finance  Corporation of  an  office  building in  Nome;                                                                    
     approving  the issuance  of bonds  for the  purchase of                                                                    
     the   office  building;   providing   notice  of,   and                                                                    
     authorizing  the  commissioner   of  administration  to                                                                    
     enter into, a lease-purchase  agreement with the Alaska                                                                    
     Housing  Finance Corporation  for the  office building;                                                                    
     and providing for an effective date."                                                                                      
                                                                                                                                
9:26:59 AM                                                                                                                    
                                                                                                                                
Senator  Olson  explained  that SB  226  was  introduced  to                                                                    
address the  need for  a new state  office building  in Nome                                                                    
and shared  that the current  building had  major structural                                                                    
problems. He  stated that the  project had lost  momentum in                                                                    
recent   years  and   that   the   Alaska  Housing   Finance                                                                    
Corporation had been used as  an alternative funding source.                                                                    
He commented that the legislation  would replace the current                                                                    
building that contained asbestos.                                                                                               
                                                                                                                                
Co-Chair Stedman discussed the fiscal notes in the packet.                                                                      
                                                                                                                                
Co-Chair  Hoffman  MOVED  to report  CSSB  226(FIN)  out  of                                                                    
committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal notes. There  being NO OBJECTION, it was                                                                    
so ordered.                                                                                                                     
                                                                                                                                
CSSB  226(FIN) was  REPORTED  out of  committee  with a  "do                                                                    
pass" recommendation  and with new fiscal  impact notes from                                                                    
the  Department  of  Administration and  the  Department  of                                                                    
Revenue.