SB  95-MARICULTURE REVOLVING LOAN FUND                                                                         
                                                                                                                                
10:18:58 AM                                                                                                                   
CHAIR  COSTELLO   reconvened  the   meeting  and   announced  the                                                               
consideration  of SB  95.  She  stated that  this  is the  second                                                               
hearing and  intent is to  take questions from  committee members                                                               
and look to the will of the committee.                                                                                          
                                                                                                                                
10:19:26 AM                                                                                                                   
SENATOR GARY  STEVENS, sponsor of  SB 95, remarked that  the more                                                               
he learns  about the bill  the more exciting it  becomes, because                                                               
of  the tremendous  potential to  expand mariculture  in Alaska's                                                               
clean ocean water.  The committee heard about  the possibility of                                                               
developing  shellfish  and seaweed  farms  and  algae as  a  fuel                                                               
source.  He  highlighted  that  Julie  Decker  [Alaska  Fisheries                                                               
Development  Foundation] envisions  this  being a  billion-dollar                                                               
industry  in  30 years,  which  will  greatly enhance  the  state                                                               
economy.                                                                                                                        
                                                                                                                                
CHAIR  COSTELLO said  she agrees  and signed  as a  cosponsor. "I                                                               
think  it's   a  great  economic  diversification   and  economic                                                               
development bill."                                                                                                              
                                                                                                                                
SENATOR  HUGHES  said  she,  too, appreciates  the  bill  and  is                                                               
selfishly looking  forward to the  day when it's possible  to get                                                               
local shellfish in grocery stores.                                                                                              
                                                                                                                                
10:20:40 AM                                                                                                                   
SENATOR  HUGHES  moved  to  report  SB  95  from  committee  with                                                               
individual recommendations and attached fiscal note(s).                                                                         
                                                                                                                                
CHAIR  COSTELLO  announced  that  without  objection,  SB  95  is                                                               
reported from the Senate Labor and Commerce Standing Committee.