SENATE BILL NO. 132                                                                                                           
                                                                                                                                
     "An  Act  imposing  an  annual  educational  facilities                                                                    
     maintenance and  construction tax on net  earnings from                                                                    
     self-employment    and   wages;    relating   to    the                                                                    
     administration  and  enforcement   of  the  educational                                                                    
     facilities  maintenance   and  construction   tax;  and                                                                    
     providing for an effective date."                                                                                          
                                                                                                                                
1:50:53 PM                                                                                                                    
                                                                                                                                
Senator Bishop  MOVED to ADOPT the  committee substitute for                                                                    
SB 132, Work Draft 33-LS0764\U (Nauman, 2/28/24).                                                                               
                                                                                                                                
Co-Chair Olson OBJECTED for discussion.                                                                                         
                                                                                                                                
1:51:38 PM                                                                                                                    
                                                                                                                                
KEN  ALPER, STAFF,  SENATE FINANCE  COMMITTEE discussed  the                                                                    
Explanation of Changes (copy on file):                                                                                          
                                                                                                                                
     Change  1:   Adds  language  that,   for  self-employed                                                                    
     individuals, the tax is due  to the department no later                                                                    
     than April 15th of the next calendar year.                                                                                 
                                                                                                                                
     Change 2:  In AS  43.45.021(e), page 3  line 17  of the                                                                    
     CS, changes  "shall" to "may" regarding  the ability of                                                                    
     the   Department   of   Revenue   to   coordinate   tax                                                                    
     administration  with the  Department of  Labor if  this                                                                    
     would result in cost savings to the state.                                                                                 
                                                                                                                                
     Change  3: Updates  the effective  date  to January  1,                                                                    
     2025.                                                                                                                      
                                                                                                                                
Co-Chair  Olson  REMOVED  his   OBJECTION.  There  being  no                                                                    
further objection, it was so ordered.                                                                                           
                                                                                                                                
1:52:39 PM                                                                                                                    
                                                                                                                                
SENATOR  CLICK BISHOP,  SPONSOR  felt that  the  bill was  a                                                                    
small  step forward  to meeting  the huge  unfunded deferred                                                                    
maintenance for education.                                                                                                      
                                                                                                                                
1:54:00 PM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
1:55:27 PM                                                                                                                    
RECONVENED                                                                                                                      
                                                                                                                                
1:55:40 PM                                                                                                                    
                                                                                                                                
Senator Bishop MOVED to REPORT  SB 132 out of committee with                                                                    
individual recommendations and  attached fiscal notes. There                                                                    
being no objection, it was so ordered.                                                                                          
                                                                                                                                
CS SB 132(FIN) REPORTED OUT  of committee with two "do pass"                                                                    
recommendations, one  "do not pass" recommendation,  and one                                                                    
"no recommendation"; and  one new zero fiscal  note from the                                                                    
Department of  Labor and Workforce Development,  and one new                                                                    
fiscal note from the Department of Revenue.                                                                                     
                                                                                                                                
1:55:57 PM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
1:57:14 PM                                                                                                                    
RECONVENED                                                                                                                      
                                                                                                                                
Co-Chair Olson discussed housekeeping.