SENATE BILL NO. 123                                                                                                           
                                                                                                                                
     "An  Act   relating  to  the  regulation   of  electric                                                                    
     utilities and  electric reliability  organizations; and                                                                    
     providing for an effective date."                                                                                          
                                                                                                                                
9:03:23 AM                                                                                                                    
                                                                                                                                
Co-Chair von Imhof read the  title and requested a review of                                                                    
the fiscal note.                                                                                                                
                                                                                                                                
Co-Chair  Stedman  reviewed  a  new zero  fiscal  note  from                                                                    
Department of Commerce,  Community and Economic Development,                                                                    
OMB  Component 2417.  He read  from the  fiscal analysis  on                                                                    
Page 2:                                                                                                                         
                                                                                                                                
     SB 123 gives the  Regulatory Commission of Alaska (RCA)                                                                    
     new   authority   to   certify   electric   reliability                                                                    
     organizations,  including   the  ability  to   form  an                                                                    
     electric  reliability  organization  (ERO) if  the  RCA                                                                    
     determines no  person has applied for  certification as                                                                    
     an ERO.  SB 123 provides  a funding mechanism  for, and                                                                    
     permissible composition  of, the governing board  of an                                                                    
     ERO.                                                                                                                       
                                                                                                                                
Co-Chair  von  Imhof  noted  that  invited  testifiers  were                                                                    
online to  answer questions. She relayed  that the committee                                                                    
                                        rd                                                                                      
had heard  the bill on Tuesday,  March 3,  and  had reviewed                                                                    
the multi-step process  the bill had gone through  to get to                                                                    
this  point. She  solicited  further  comments or  questions                                                                    
from the committee.                                                                                                             
                                                                                                                                
Co-Chair  Stedman  MOVED  to report  CSSB  123(RBE)  out  of                                                                    
Committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal  note. There being NO  OBJECTION, it was                                                                    
so ordered.                                                                                                                     
                                                                                                                                
CSSB  123(RBE) was  REPORTED  out of  committee  with a  "do                                                                    
pass" recommendation and with one  new zero fiscal note from                                                                    
the   Department  of   Commerce,   Community  and   Economic                                                                    
Development.                                                                                                                    
                                                                                                                                
9:05:57 AM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
9:08:13 AM                                                                                                                    
RECONVENED